Gold slipped 8% in a week, became cheaper by Rs 3740 per 10 grams; Silver price decreased by Rs. 5890

  • Gold and silver also had impact in the bullion market due to large fall in international markets
  • Spot in the international market fell by $ 147.85 to $ 1,529.05 an ounce
  • Prices fell to a low of 41.570 rupees per ten grams
  • Biscuit broke down to Rs 41,500 per ten grams

Heavy fall in gold and silver prices in global markets

In the bullion market, also fell by 8% in the previous week amid heavy fall in prices in global markets. During this period, prices fell to a low of 41.570 rupees per ten grams. It became cheaper by Rs 3,740 or 8.24 per cent during the whole week and sold by Rs 41,670 per ten grams on weekends. This is its lowest level since 06 February. Silver also saw a steep weekly fall of Rs 5,890 or 12.18 per cent. Silver prices came down to Rs 42,460 per kg. This is the lowest level since 03 August 2019.


The biggest weekly decline in foreign markets for seven years

In the overseas markets, the price fell the biggest weekly in over seven years. According to information from London and New York, It spot fell by $ 147.85, or 8.82 percent, to $ 1,529.05 an ounce in the international market during the week under review.US futures for April also declined by $ 144.10 to $ 1,528.90 an ounce on the weekend.  spot in the international market fell by $ 1.61, or 10.94 per cent, to close at $ 14.72 an ounce on the last trading day of the week.Investing in gold funds vs buying gold jewellery: Which is smarter? - The Economic Times

During the week under review in the local market, the standard fell by Rs 3,740 to Rs 41,670 per ten grams.  Biscuit also broke down to Rs 41,500 per ten grams. Coins, with eight grams, fell by Rs 200 to Rs 31,300 on Saturday. Silver spot fell by Rs 5,890 to Rs 42,460 per kg. During this period, silver futures also fell by Rs 6,482 to Rs 40,487 per kg on weekends. Coin buying and selling were at Rs 900 and Rs 910 per unit, respectively, with a softening of Rs 60 each.

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