Sovereign gold too ruled flat at Rs 26,700 per eight grams

Gold prices held steady at Rs. 33,570 per 10 grams on Thursday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. However, silver prices fell by Rs 40 to Rs 37,850 per kg. Reduced offtake by industrial units and coin makers at the local spot market led to decline in silver prices, traders were quoted as saying in the PTI report. The prices of yellow metal had risen by Rs. 200 to Rs. 33,570 per 10 grams on Wednesday.

Here are five things to know about gold and silver prices today:

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purity held steady at Rs 33,570 per 10 grams and Rs 33,400 per 10 grams, respectively.

2. Sovereign gold too ruled flat at Rs 26,700 per eight grams.

3. Globally, gold prices rose to a week high on Thursday, supported by expectations of an interest rate cut by the US Federal Reserve following soft inflation data, which also weighed on the dollar, reported news agency Reuters.

4. Spot gold was up 0.3 per cent at $1,336.82 per ounce in intraday trade. Prices touched $1,338.87 earlier in the session, a high since June 7. US gold futures were 0.2 per cent higher at $1,340 an ounce.

5. Meanwhile, silver ready declined by Rs 40 to Rs 37,850 per kg, while weekly-based delivery fell Rs 81 to Rs 36,825 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.



(With agency inputs)