Gold prices continue to fall on weak global prices, absence of demand

On Tuesday, gold prices fell to Rs 39,634 per 10 gram on weak global prices and absence of demand.

According to the prices given by the Indian Bullion and Jewellers Association, on January 14 the rate without GST for gold (purity-999) is Rs 39,634 while for gold with purity-995 is Rs 39,475. Silver prices also saw a drop to Rs 45,835 per kg from Rs 46,265 per kg.

Gold prices according to purity levels are as follows:

999- Rs 39,634/-

995 - Rs 39,475/-

916 - Rs 36,305/-

750 - Rs 29,726/-

585 - Rs 23,186/-

On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 199, or 0.50 per cent, to Rs 39,347 per 10 gram in a business turnover of 2,641 lots. The yellow metal for April delivery slumped Rs 208, or 0.52 per cent, to Rs 39,500 per 10 gram in 254 lots. Analysts said subdued overseas cues influenced sentiment. Globally, gold was trading 0.75 per cent lower at USD 1,538.90 an ounce in New York.

(Inputs from Agencies)

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