PSU MARKET

Gold Rate Today: Gold, silver prices slip on weak global trend

Staff reporter, New Delhi
07/02/2019   0 Comments

Gold and silver prices lurched lower in futures trade on Thursday, hit by low demand at the spot market and weak global trend. Lackluster demand from local jewellers amid weak trend overseas has hit the yellow-metal, traders said. Gold fell in global markets to more than one-week low level, pressured by a stronger dollar as a strong dollar means gold price will depreciate as the commodity becomes dearer in other currencies, causing a fall in its demand. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell for a fourth straight session on Wednesday, Reuters reported. The MCX Gold was trading at Rs 33,139 per 10 grams, down by Rs 188, while MCX Silver was trading Rs 192 lower at Rs 39,954 a kilo around 11:05 am. 

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