New Delhi: Gold prices edged lower in the national capital on Tuesday, falling by Rs 50 to Rs 78,650 per 10 grams, following fresh selling pressure from stockists and retailers, according to the All India Sarafa Association. The precious metal had touched an all-time high of Rs 78,700 per 10 grams just a day earlier.
In contrast, silver prices plunged significantly, dropping by Rs 1,000 to Rs 92,500 per kilogram, compared to the previous close of Rs 93,500 per kilogram. Additionally, gold with 99.5% purity saw a similar decline of Rs 50, settling at Rs 78,250 per 10 grams, after closing at Rs 78,300 on Monday, when it had reclaimed its record high.
Traders attributed the decline in gold prices to subdued demand from local jewellers, which led to reduced momentum in the yellow metal’s price.
Globally, Comex gold saw a modest rise of 0.16%, trading at $2,669.90 per ounce. Silver in the international market also edged up slightly by 0.08%, reaching $31.34 per ounce.
In the futures market on the Multi Commodity Exchange (MCX), gold contracts for December delivery rose by Rs 54, or 0.07%, to Rs 76,100 per 10 grams. However, silver contracts for December delivery dropped by Rs 101, or 0.11%, to Rs 90,635 per kilogram on the MCX.
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