Gold prices plummeted to Rs 39,881 per 10 gram amid a stronger rupee and weak global trends.
According to the prices given by the Indian Bullion and Jewellers Association, on January 9 the rate without GST for gold (purity-999) is Rs 39,881 while for gold with purity-995 is Rs 39,722. Silver prices, however, saw a drop to Rs 46,375per kg from Rs 47,795 per kg.
Gold prices according to purity levels are as follows:
999- Rs 39,881/-
995 – Rs 39,722/-
916 – Rs 36,531/-
750 – Rs 29,911/-
585 – Rs 23,330/-
On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 450, or 1.12 per cent, to Rs 39,660 per 10 gram in a business turnover of 5,093 lots. The yellow metal for April delivery fell by Rs 472, or 1.17 per cent, to Rs 39,840 per 10 gram in 603 lots.
Analysts attributed the fall in prices to trimming of positions by investors, tracking a weak trend in global market. Globally, gold was trading 0.49 per cent lower at USD 1,552.50 an ounce in New York.