DAILY BUZZ
GOLD
- Gold prices fell for the third- straight day by dropping Rs 255 to Rs 30,425 per 10 grams in the national capital today on sustained selling by stockists in tandem with weakening global trend.
- Gold in Singapore, which normally sets the price trend on the domestic front, fell by 0.3 per cent to $1,325.66 an ounce and silver traded tad lower at $20.59 an ounce from 20.61 yesterday.
- On the domestic front, gold of 99.9 and 99.5 per cent purity plunged by Rs 255 each to Rs 30,425 and Rs 30,225 per 10 grams, respectively.
- It had lost Rs 150 in last two trade.
- Sovereigns also declined by Rs 100 at Rs 25,200 per piece of eight grams.
SILVER
- Silver followed suit and lost Rs 540 at Rs 45,700 per kg on poor offtake by industrial units and coin makers.
- Traders said the sentiment remained bearish on stockists selling and weakening global trend as Federal Reserve signalled a rise in interest rates while further reducing monetary stimulus, boosting the dollar and curbing demand for the metal.
- Similarly, silver ready dropped by Rs 540 to Rs 45,700 and weekly-based delivery by Rs 340 to Rs 45,500 per kg. The white metal had lost Rs 960 in the previous two days.
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