Gold, Silver Prices Decline On Weak Global Cues

Gold and silver prices reported low on Thursday on the back of weak cues from global markets. Gold futures for delivery in October fell as much as 0.32 per cent to hit an intraday low of ₹ 46,887 on the Multi Commodity Exchange. In spot market, fine gold with purity of 24 carat was priced at ₹ 47,200 per 10 grams, according to India Bullion & Jewellers Association (IBJA). 22 carat gold was priced at ₹ 46,070, 20 carat gold was being sold at ₹ 42,010, 18 carat gold was being retailed at ₹ 38,230 and 14 carat gold was priced at ₹ 30,450.

In international markets, gold slipped to hover near two-week lows as a stronger US dollar weighed on prices, while investors sought cues from major central banks as policymakers signalled support for tapering pandemic-era stimulus.