News From Press Gold prices slump by Rs120 on lacklustre demand, global cues

Gold prices slump by Rs120 on lacklustre demand, global cues

Source: Mint Dec 1, 2017

Gold prices declined by Rs120 to Rs30,400 per 10 grams on Thursday, mostly on account of slackened demand from jewellers and weak global cues. Silver also remained under selling pressure and cracked below the Rs40,000-mark by falling Rs675 to Rs39,325 per kg.

Market analysts said tepid demand from jewellers and retailers at the domestic spot market and a weak trend in the global market pressured by upbeat US growth data for the third quarter, weighed on the precious metal prices.

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