Decline in gold prices; time to indulge in shopping!

decline-in-goldHappy days are here for the gold lovers as the latest update from the market has that there is a fall of Rs 30 to Rs 30,170 per ten grams in Delhi. The reason for the hoo-ha is said to be the slow call for the gold at the reigning higher levels in the midst of a feeble global course. As much of good news it is for the buyers, it is as bad sign for the gold sellers. However, the traders can still heave a sigh of relief as silver is still going sturdy at Rs 44,500 per kg on deficiency of trading support from business units and coin makers. The situation was on the same lines in Mumbai as well.

While gold prices were on fall on new selling, silver was going steady in restricted deals. Gold of 99.9 and 99.5 per cent clarity was sold lower by Rs 105 each to Rs 29,925 and Rs 29,775 per ten grams but silver stayed unaffected at Rs 45,250 per kg. Besides the dull interest of the buyers at the dominating higher levels, weak global trend is also being blamed for the drop in gold to a two-week low, which was followed by the decrease in prices. Not only within the country, but gold in Singapore, the country which usually determines the cost tendency at the domestic front, descended by 0.4 per cent to USD 1,231.85 an ounce, the scummiest stage since January 10.

Talking domestically, gold of 99.9 and 99.5 per cent clarity saw a decline by Rs 30 each to Rs 30,170 and Rs 29,970 per ten grams, in that order. However, independently it is going stable at Rs 25,100 per piece of eight grams. Then again, silver was going steady at Rs 44,500 per kg, though a decline was noticed in weekly-based delivery by Rs 120 to Rs 44,250 per kg. Of course, it was owing to the shortage of purchasing back up by investors. Meanwhile, coming to silver coins, no difference was seen on that front as it was same at Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.

Going by the current decline, you can easily make out that it is the best time for you to indulge in gold shopping and you can find the exclusive designs at best prices at Don’t delay the splurge, as with precious metals you can never say when the price may rise again.

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