Gold prices fell in domestic markets through the week and demand for the yellow metal in India remained low this week despite a fall in prices. Jewellers are hoping the upcoming wedding and festive season will be able to revive demand for the precious yellow metal in the domestic market. “Sentiment is weak. Retail demand is lower than normal as many consumers are preserving cash,” said a Mumbai-based bullion dealer with a private gold importing bank told Reuters.
Gold began the week on a high note after the price rose by ₹82 to ₹45,952 per 10 gram, in tune with price in international markets. In contrast, silver price took a tumble of ₹413 to trade at ₹61,907 per kilogram. In the international market, gold made gains and traded at $1,790 per ounce and silver traded flat at $23.66 per ounce.
The price for the yellow metal fell marginally by ₹36 to ₹45,888 per 10 gram on Tuesday as the international market also saw a depreciation in the value of gold. Silver, however, bucked the trend and gained ₹73 to trade at ₹61,911 per kg. In the international market, gold was trading lower at $1,788 per ounce and silver was flat at $23.68 per ounce.
Gold prices fall throughout week after starting on high note added by Muslim Kashmir on
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