Gold prices in India fell on Tuesday, extending their recent decline amid a weak global trend. Silver rates also declined. The decline in domestic gold and silver prices come amid a rebound in the rupee’s value against the US dollar and a slide in global prices of precious metals. On MCX, October gold futures prices were down 0.45% to Rs 38,300 per 10 gram, off over â‚¹1,500 from its recent highs of Rs 39,885. Silver prices on MCX also extended decline today, falling 0,7% to Rs 47,405 per kg. That is down about 8% from their recent highs of Rs 51,489.
Here are the expected gold prices in India on Wednesday (courtsey: goodreturns):
22 Carat Gold Price Per Gram in India (INR)
1 gram: Rs 3,730
10 gram: Rs 37,300
100 gram: Rs 3,73,000
24 Carat Gold Rate Per Gram in India (INR)
1 gram: Rs 3,830
10 gram: Rs 38,300
100 gram: Rs 3,83,000
Silver Rate Per Gram in India (INR)
1 gram: Rs 53.20
10 gram: Rs 532
1 Kg: 53,200
In world markets, Gold prices dropped to a near one-month low on Tuesday to hold below the key $1,500 (Rs 1,07,787) pivot, hit by a stronger dollar and improved appetite for riskier assets supported by hopes of global economic stimulus. The US gold futures slipped 0.5 per cent to $1,503.20 (Rs 1,07,787) per ounce.
(With Reuters Inputs)