According to All India Sarafa Association, gold prices in the national capital on Monday fell from record highs and fell by Rs 1,300 to Rs 81,100 per 10 grams due to fresh selling by stockists and retailers. The price of this precious metal of 99.9 percent purity was stable at Rs 82,400 per 10 grams on Thursday, which is its all-time high.
Silver also saw selling pressure
Silver also remained under selling pressure on Monday and its price fell by Rs 4,600 to Rs 94,900 per kg below the level of Rs 95,000. Silver closed at Rs 99,500 per kg on Thursday.
Traders said that gold prices were affected due to weak demand from jewelers and retailers in the local markets. The price of gold of 99.5 percent purity fell by Rs 1,300 to Rs 80,700 per 10 grams. In the previous session on Thursday, gold closed at Rs 82,000 per 10 grams, its highest level ever.
Gold contract for December delivery rises on MCX
The price of gold contract for December delivery in futures trading on the Multi Commodity Exchange (MCX) on Monday fell by Rs 329 or 0.42 percent to Rs 78,538 per 10 grams.
According to market experts, “Gold prices witnessed volatility as Comex gold found support around US $ 2,730 but struggled to move above US $ 2,750.
