Mumbai: Gold prices moved down further for the fourth straight day at the domestic bullion market in Mumbai bullion market on Tuesday on low demand from local jewellers and retailers even as the metal strengthened overseas. Silver prices followed suit and lost another Rs215 per kg on lack of buying support from industrial units. Standard gold (99.5 purity) fell by Rs 15 to finish at Rs 28,550 per 10 grams from Monday’s closing level of Rs 28,565. Pure gold (99.9 purity) also moved down by a similar margin to settle at Rs 28,700 per 10 grams compared to Rs 28,715. Globally, gold prices rose after hitting a five-week low as the dollar steadied after reaching a 3-week peak following hawkish comments from an influential US Federal Reserve official.

Source: Mint June 20, 2017 13:22 UTC