Gold prices slip to Dh150.50 in Dubai, better rates to come?


Dubai, Mar 25 (IANS): Gold snapped its two-session rise at the domestic bullion market on Friday following subdued offtake from stockists and investors driven by bearish global sentiment.

Silver too fell in line with the yellow metal on speculative selling.

Overseas, gold came under pressure as dollar rose on delay in US healthcare vote which is seen by financial markets as a crucial test of President Donald Trump's ability to push through reforms.

Standard gold (99.5 purity) dropped by Rs105 to close at Rs28,745 per 10 grams from Thursday's closing level of Rs28,850. In Dubai, gold prices fell to Dh150.50 (24 carat) from yesterday evening's rate of Dh151.

Pure gold (99.9 purity) also declined by a similar margin to conclude at Rs28,895 per 10 grams as compared to Rs29,000 previously.

Silver (.999 fineness) slid by Rs170 per kg to end at INR 41,660 from Rs41,830 on Thursday.

Globally, gold fell against the backdrop of a rising dollar as markets waited to see whether President Trump succeeds in pushing through healthcare reforms.

Spot gold was down 0.2 per cent at $1,242.31 per ounce at early trade.

Spot silver rose 0.2 per cent to $17.51.

 

  

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Title: Gold prices slip to Dh150.50 in Dubai, better rates to come?



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