Gold prices snap 3-day rally\, silver surpasses ₹40\,000 level

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Gold prices snap 3-day rally, silver surpasses ₹40,000 level

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Snapping its three-day gains, gold on Friday declined by ₹145 to ₹32,690 at the bullion market in the national capital amid weaker dollar against rupee, according to the All India Sarafa Association.

Silver, however, continued its rising streak and crossed the ₹40,000-mark to ₹40,140, gaining ₹440 on increased demand from industrial units and coin makers.

Traders said a weaker dollar compared to the rupee and subdued demand from local jewellers put pressure on the prices of yellow metal.

In the previous three days, gold prices had surged by a total of ₹565.

In Delhi, prices of gold of 99.9% and 99.5% purities declined by ₹145 each to ₹32,690 and ₹32,540 per 10 gram, respectively.

Sovereign gold, however, remained unchanged at ₹25,200 per piece of 8 gram.

Globally, gold prices traded higher at USD 1293.61 an ounce and silver advanced to USD 15.75 an ounce in New York.

Silver ready rose by ₹440 to ₹40,140 per kg and weekly-based delivery witnessed a marginal rise of ₹71 to ₹39,436 per kg.

Silver coins, on the other hand, remained unchanged at ₹76,000 for buying and ₹77,000 for selling of 100 pieces.

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