RJ Market Watch
Gold prices Slip on Weak Global Cues, Silver Weaken
Gold prices today edged lower, tracking weak overseas trend and muted demand from local jewellers. Tracking gold, silver rates also weakened on reduced off take by industrial units and coin makers. Gold rates fell by
The dollar has risen despite the Federal Reserve pausing its multi-year rate hike cycle and dovish comments from several Fed officials, which pushed gold to a nine-month high at $1,326.30 in late January. Meanwhile, holdings of the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, saw outflows for five straight sessions last week.
(Courtesy: Livemint & with inputs from agencies)
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