Gold prices on Monday slip by ₹ 100 to ₹ 33,620 per 10 grams reported news agency Press Trust of India (PTI) quoting the All India Sarafa-Association. Silver prices also dropped by Rs. 10 to Rs. 38,090 per kg owing to reduced offtake by industrial units and coin makers.
The decline in gold prices came due to fall in demand from local jewellers and a weak global trend, said the report citing traders. The yellow metal had fallen by Rs. 150 to Rs. 33,720 per 10 grams on Saturday.
Sovereign gold, however, remained flat at Rs. 26,800 per eight grams as compared with the previous close.
In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by Rs. 100 each to Rs. 33,620 and Rs. 33,450 per 10 grams, respectively.
Silver ready fell by Rs. 10 to Rs. 38,090 per kg, whereas, weekly-based delivery rose by Rs. 81 to Rs. 37,116 per kg. Silver coins held flat at Rs. 80,000 for buying and Rs. 81,000 for selling of 100 pieces.
Spot gold was down 0.3 per cent at $1,337.31 per ounce in intradaytrade. Gold hit $1,358.04, its highest since April 11, 2018, on Friday. US gold futures were down 0.2 per cent at $1,341.70 an ounce.
Globally, gold prices eased, after retreating from a 14-month peak hit in the previous session, as the dollar held near multi-week highs on strong US retail sales data, ahead of the US Federal Reserve meeting this week, reported news agency Reuters.
