Gold prices on Friday dropped by ₹160 to ₹33,170 per 10 gram at the bullion market mainly because of tepid demand from jewellers amid weak global trend, Press Trust of India reported. Silver also slumped by ₹625 to ₹37,625 per kg on the reduced offtake by industrial units and coin makers. Traders said sentiment remained bearish on the back of a weak trend overseas, while easing demand from local jewellers also weighed on bullion prices. In Delhi, gold of 99.9% and 99.5% purity dropped by ₹160 each to ₹33,170 and ₹33,000 per 10 gram, respectively. "On one end, gold has support from prevailing uncertainties in the financial markets relating to the trade talks and concerns over growth outlook.

Source: Mint May 17, 2019 13:52 UTC