Finance Update

Gold Rate Today: Gold prices slip on weak spot market demand

Gold eased after hitting one-month high in the previous session.

ETMarkets.com|

Mar 26, 2019, 12.03 PM IST

Reuters

Dollar’s fresh gain against its global peers also weighed on as a strong dollar means gold price will depreciate as the commodity becomes dearer in other currencies, causing a fall in its demand.

NEW DELHI:

Gold

prices fell in futures trade in Tuesday’s session as speculators trimmed their bets after the metal eased in global markets.

Dollar’s fresh gain against its global peers also weighed on as a strong dollar means gold price will depreciate as the commodity becomes dearer in other currencies, causing a fall in its demand.

Besides, weak demand at the spot market further hit the yellow metal in futures trade.

Gold eased after hitting one-month high in the previous session, as a slight recovery in share markets and US Treasury yields reduced some of the precious metal’s safe-haven appeal, Reuters reported.

Silver also declined on reduced order by industrial units and coin makers.

The MCX Gold was trading at Rs 32138 per 10 grams, lower by Rs 86, while MCX Silver was trading Rs 127 down at Rs 38465 a kilo around 11:15 am.

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Prakash Poojary
Business Analyst

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