Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Market / Stock-market-news/  Gold sinks below 30,000 mark, silver down by Rs600
BackBack

Gold sinks below ₹30,000 mark, silver down by Rs600

Gold of 99.9 and 99.5% purity tumbled by Rs250 each to Rs29,850 and Rs29,700 per ten grams, respectively

Gold plunged by 1.89% to $1,263.40 an ounce in New York yesterday on speculation that the Federal Reserve is still on track to boost US interest rates this year. Photo: Priyanka Parashar/MintPremium
Gold plunged by 1.89% to $1,263.40 an ounce in New York yesterday on speculation that the Federal Reserve is still on track to boost US interest rates this year. Photo: Priyanka Parashar/Mint

New Delhi: Sliding for the second straight day, gold dipped below the 30,000-mark by losing 250 to 29,850 per ten grams at the bullion market today, amid a subdued demand from jewellers and a weak trend overseas.

Marketmen said sentiment remained bearish largely in tune with a weak global trend and fading demand from jewellers and retailers at current levels at the domestic spot markets.

Globally, gold plunged by 1.89% to $1,263.40 an ounce in New York yesterday on speculation that the Federal Reserve is still on track to boost US interest rates this year. Silver fell by 2.55% to $16.99 an ounce.

In the national capital, gold of 99.9 and 99.5% purity tumbled by 250 each to 29,850 and 29,700 per ten grams, respectively, a level last seen on 28 April. The precious metal had lost 250 yesterday. Sovereign, however, remained steady at 23,300 per piece of eight grams in limited deals.

Tracking gold, silver ready dropped by 600 to 40,600 per kg and weekly-based by 565 to 40,800 per kg. On the other hand, silver coins continued to be traded at previous level of 69,000 for buying and 70,000 for selling of 100 pieces.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 10 May 2016, 03:26 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App