Gold and silver prices fall amid US-Iran tension

Gold and silver prices fall amid US-Iran tension

FPJ Web DeskUpdated: Wednesday, January 08, 2020, 08:20 AM IST
article-image

On Tuesday, Gold and silver prices fell sharply in India amid a decline in global markets and a rebound in rupee against the US dollar.

According to the prices given by the Indian Bullion and Jewellers Association, on January 7 the rate without GST for gold (purity-999) is Rs 40,537 while for gold with purity-995 is Rs 40,375. Silver prices, however, saw a drop to Rs 47, 145 per kg from Rs 47,955 per kg.

Gold prices according to purity levels are as follows:

999- Rs 40,537/-

995 - Rs 40,375/-

916 - Rs 37,132/-

750 - Rs 30,403/-

585 - Rs 23,714/-

The tensions in Middle East region rose after US killed top Iranian commander Qasem Soleimani following an air strike on Baghdad's international airport on Friday. On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 18, or 0.04 per cent, at Rs 40,490 per 10 gram with a business turnover of 4,004 lots.

The yellow metal for April delivery traded higher by Rs 12, or 0.03 per cent, at Rs 40,691 per 10 gram in a business turnover of 288 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold prices rose 0.02 per cent to USD 1,569.10 per ounce in New York.

(Inputs from Agencies)

RECENT STORIES

Markets Bounce Back After 4-Day Slide, Sensex Rises 317 Points On Easing Inflation

Markets Bounce Back After 4-Day Slide, Sensex Rises 317 Points On Easing Inflation

RBI Expected To Deliver Final 25 bps Rate Cut In December, Repo Rate Seen At 5.25% By End-2025

RBI Expected To Deliver Final 25 bps Rate Cut In December, Repo Rate Seen At 5.25% By End-2025

India’s Trade Deficit Narrows To $18.78 Billion In June, Services Surplus & Import Drop Aid...

India’s Trade Deficit Narrows To $18.78 Billion In June, Services Surplus & Import Drop Aid...

AWL Agri Business Q1 FY26 Revenue Surges 21% YoY, Edible Oil Segment Drives Record Performance

AWL Agri Business Q1 FY26 Revenue Surges 21% YoY, Edible Oil Segment Drives Record Performance

SEBI Announces Settlement Scheme For Venture Capital Funds, Opens July 21; Ends January 19 Next Year

SEBI Announces Settlement Scheme For Venture Capital Funds, Opens July 21; Ends January 19 Next Year