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Diwali 2018 Gold Rates Slip on Weak Global Cues, Muted Demand Ahead of Dhanteras

PTI
Besides, the rupee depreciating against the dollar by 54 paise to 73.04, making imports costlier, supported the upside in gold prices.

November 2, New Delhi: Gold prices have slipped today by Rs 150 to Rs 32,630 per 10 grams, thus breaking its three-day rising spell. According to PTI reports, the fall is on the back of weak global trend and muted demand from the local jewellers. Silver, on the other hand, has recovered by Rs 310 to Rs 39,500 per kg backed by increased offtake by coin makers. The sentiment turned weak, mainly due to a subdued trend overseas. In the global market, gold slipped by 0.03 per cent to USD 1,233.50 an ounce and silver by 0.03 per cent to USD 14.82 an ounce in Singapore. Diwali 2018: Why Is Dhanteras Celebrated? Origin and Significance of The Festival of Wealth.

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In the national capital, gold of 99.9 and 99.5 per cent purity declined by Rs 150 each to Rs 32,630 and Rs 32,480 per 10 grams respectively. The precious metal had gained Rs 230 in the last three days. Sovereign gold, however, remained flat at Rs 24,900 per piece of 8 gram.

On the other side, silver ready rebounded by Rs 310 to Rs 39,500 per kg and weekly-based delivery by Rs 418 to Rs 38,546 per kg. Silver coins, however, were unaltered at 76,000 for buying and Rs 77,000 for selling of 100 pieces.

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