Gold loses sheen in Diwali trade

Globally, gold rose 0.51% to $1,233.80 an ounce and silver climbed 0.17% to $14.77 an ounce.

Gold prices dropped by ₹210 to ₹32,400 per 10 grams in special ‘Diwali Muhurat’ trading at the bullion market on Wednesday.

Tracking gold, silver too fell by ₹300 to ₹39,000 per kg.

Bullion traders said the slide in gold prices was mostly due to absence of worthwhile activity as jewellers and retailers made token purchases to mark the auspicious occasion of ‘Diwali’ and beginning of Hindu Samvat year 2075.

Globally, gold rose 0.51% to $1,233.80 an ounce and silver climbed 0.17% to $14.77 an ounce.

In the national capital, gold of 99.9% and 99.5% purity traded lower by ₹210 each to ₹32,400 and ₹32,250 per 10 grams respectively. The precious metal had shed ₹80 on November 6.

Sovereign too weakened by ₹100 to ₹24,800 per piece of eight grams.

In line with overall trend, silver ready fell by ₹300 to ₹39,000 per kg while weekly-based delivery lost ₹316 to ₹38,128 per kg.

Silver coins were unaltered at ₹76,000 for buying and ₹77,000 for selling of 100 pieces.

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