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Good news: Gold prices plunge to 19-month low, Silver prices drop too

Reports suggested that Silver was dropped by Rs. 715 to Rs. 38,000 per kg due to poor offtake by industrial units and coin makers.  

NMF News Bureau | Updated: 16 Aug 2018, 16:48:04
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New Delhi: Owing to weak global cues amid fall in demand from local jewellers, gold prices tumbled by Rs. 290 to Rs. 30,340 per 10 grams at the bullion market on Thursday

Reports suggested that Silver was dropped by Rs. 715 to Rs. 38,000 per kg due to poor offtake by industrial units and coin makers.  

Gold prices fell to their lowest in more than 19 months as sentiment turned negative due to weak global leads with the dollar holding steady near a recent peak, eroding the appeal of the precious metal as a safe haven, traders said. 

According to reports, Gold prices, which have largely been pressured by a strong dollar and rising US interest rates, have shed nearly 10 per cent in 2018.


First Published: 16 Aug 2018, 16:48:04

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