Stock Advisory Company, Weak global trends soften gold by Rs 250, silver slips to Rs 39,300
Traders said gold prices took a hit owing to a weak global trend as the dollar remained firm, while investors awaited the minutes of the US Fed's last policy meeting
Gold tumbled by Rs 250 to Rs 31,450 per ten gram at the bullion market on Thursday in tandem with a weakening global trend amid easing demand from local jewelers.
Silver followed suit and slipped by Rs 140 to Rs 39,300 per kg on reduced offtake by industrial units and coin makers.
Traders said gold prices took a hit owing to a weak global trend as the dollar remained firm, while investors awaited the minutes of the US Fed's last policy meeting.
Globally, gold fell 0.21 percent to $1,325.90 an ounce and silver by 0.18 percent to $16.39 an ounce in Singapore on Thursday.
Besides, easing demand from local jewelers and retailers at domestic spot market weighed on gold prices.
In the national capital, gold of 99.9 percent and 99.5 percent purity plunged by Rs 250 each to Rs 31,450 and Rs 31,300 per ten gram, respectively.
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