New Delhi: Gold futures on Thursday fell by 0.29 p.c to Rs 50,349 per 10 gram as members offloaded their holdings on low spot demand.
At pm 13:40, On the Multi Commodity Alternate, gold costs for December supply declined by Rs 146, or 0.29 p.c, to Rs 50,349 per 10 gram in a enterprise turnover of 13,421 heaps. In the meantime, Silver supply fell 0.62 p.c to Rs 59765 per KG in a enterprise turnover of 14,961 heaps.
Spot gold dropped 1.4% to $1,880.60 an oz.. Silver fell 4.68% to $23.40.
World Gold Council (WGC) has launched a report stating that Gold demand in India dropped by 30 per cent in the course of the July-September quarter to 86.6 tonnes in comparison with the identical interval final yr resulting from COVID-19 associated disruptions and ruling excessive costs.
The general demand stood at 123.9 tonnes in the course of the third quarter of 2019, in accordance with WGC’s Q3 Gold Demand Developments report. When it comes to worth, gold demand declined by 4 per cent in the course of the quarter beneath overview at Rs 39, 510 crore in comparison with Rs 41,300 crore in the identical quarter of 2019.
In the meantime, yesterday, Gold costs gained Rs 188 to Rs 51,220 per 10 gram within the nationwide capital amid rupee depreciation. The valuable steel had closed at Rs 51,032 per 10 gram within the earlier commerce. Silver additionally rose Rs 342 to Rs 62,712 per kilogram, from Rs 62,370 per kilogram within the earlier commerce.