Gold prices on Friday dropped to Rs 53,277 from Rs 53,354 per 10 gram as participants offloaded their holdings on low spot demand.
According to prices given by the Indian Bullion and Jewellers Association, a Mumbai-based industry body, on July 30, the rate without GST for gold (purity-999) is Rs 53,277, while for gold with purity-995 is Rs 53,064. Meanwhile, silver prices also slipped to Rs 61,760 from Rs 63,260 per kg.
Gold prices according to purity levels are as follows:
999 - Rs 53,277/-
995 - Rs 53,064/-
916 - Rs 48,802/-
750 - Rs 39,958/-
585 - Rs 31,167/-
On the Multi Commodity Exchange, gold prices for August delivery declined by Rs 237, or 0.45 per cent, to Rs 52,950 per 10 gram in a business turnover of 1082 lots. The yellow metal for October delivery eased by Rs 271, or 0.51 per cent, to Rs 52,768 per 10 gram in 14,799 lots. In the international market, gold was quoting lower at USD 1,956 per ounce, while silver was trading at USD 23.50 per ounce.