Srinagar, August 30 (The Kashmir Essence)
Gold prices fell by Rs 100 to Rs 74,250 per 10 grams in New Delhi, while silver dropped by Rs 600 to Rs 87,200 per kilogram, marking a second consecutive session of decline. Gold of 99.5% purity also decreased by Rs 100 to Rs 73,900 per 10 grams.
Traders attribute the decline in gold prices to reduced local demand by jewellers. Globally, gold is trading at USD 2,555.10 per ounce, up by USD 17.30 or 0.68%, with market caution ahead of US economic data releases. Silver is quoted at USD 29.97 per ounce internationally. Gold ETFs saw net inflows of USD 403 million, mainly from North American funds, and China’s net gold imports increased by 17% in July, indicating stronger demand. ( The Kashmir Essence)
