Precious Metals Continue to Lose for the Second Successive Session

silver bars

Credit: Dnn87 / CC-BY SA 3.0

Due to dim demand from stockists, both precious metals, gold and silver, continue to lose for the second consecutive session. Both the precious metals showed a run-down phase in the national capital.

Gold prices went down by Rs 150, settling at Rs 28,290 per 10 grams, while silver price lost Rs 300 to Rs 64,400 per kg. The white shiny metal had plunged by Rs 1,000 in the last trading session on Saturday, while the prices on silver coins also collapsed by Rs 1,000 to Rs 71,000 for buying and Rs 72,000 to sell 100 pieces.

In the global markets, gold prices decreased by 1.6% to $1,826.75 an ounce in Singapore, while silver prices decreased by 1.1% to $41.02 an ounce.

According to the traders, an increase in the dollar and a fall of gold in Asian markets resulted in weak interests in trading. Due to higher prices of precious metals, retail customers held themselves back from buying the shimmery metals, said the traders.

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