Gold Prices in India Falls First Time in last Four Days

Gold prices in India fell yesterday for the first time in four days. Gold prices fell to Rs 38,978, per 10 gram, while silver prices also fell to Rs 46,130.

According to the prices given by the Indian Bullion and Jewellers Association, on December 30 the rate without GST for gold (purity-999) is Rs 38,978, while for gold with purity-995 is Rs 38,822. Silver prices, however, Rs 46,130 per kg from Rs 46,445 per kg.

Gold prices according to purity levels are as follows:

999- Rs 38,978/-

995 - Rs 38,822/-

916 - Rs 35,704/-

750 - Rs 29,233/-

585 - Rs 22,802/-

Gold prices on Monday dropped Rs 60 to Rs 39,020 per 10 gram in futures trade as participants cut down their positions even as the metal gained overseas. On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 60, or 0.15 per cent, to Rs 39,020 per 10 gram in a business turnover of 1,566 lots.

The yellow metal for April delivery slipped Rs 54, or 0.14 per cent, to Rs 39,119 per 10 gram in 77 lots. Analysts said despite positive overseas trend, weak sentiment at the domestic market led to fall in gold futures price. Globally, gold was trading 0.02 per cent higher at USD 1,518.40 an ounce in New York.