Gold in India tumbles as global prices see sharp drop due to strong dollar
Gold prices in India are given for 24 karat and 22 karat gold in rupees per 10 grams. MCX provides data for 24 karat (999.9 purity) gold price only.
Following global trend, prices of yellow metal on Friday witnessed a declining trend, as 24 karat gold of 10 gram sees plunged by Rs 164 and was priced at Rs 32,672, compared to previous day price of Rs 32,836, as per data given by good returns.
Also, 24 karat gold of 100 gram tumbled, as it was valued at Rs 3,26,720 - lower by Rs 1,640 as against previous day's price of Rs 3,28,360.
While 22 karat gold of 10 gram, as per the data, was valued at Rs 29,950, down by Rs 150, if compared with previous day's price of Rs 30,100.
Similarly, 22 karat gold of 100 gram was available at Rs 2,99,500 - below by Rs 1,500 from previous day's price of Rs 3,01,000.
Gold prices in India are given for 24 karat and 22 karat gold in rupees per 10 grams.
MCX provides data for 24 karat (999.9 purity) gold price only.
On the other hand, silver surged by Rs 200 on the day, as it was valued at Rs 41,400 for 1 KG. During the previous day, silver price stood at Rs 41,200.
While 100 gram silver was valued at Rs 4,140, up by Rs 20, compared to previous day price of Rs 4,120.
Globally gold prices slipped on Friday and were headed for their sharpest weekly drop in 2-1/2 months as the dollar strengthened during the week, as per Reuters.
Spot gold was down 0.2% at $1,328.90 an ounce as of 0338 GMT, heading for a fifth session of fall in six. It has shed 1.4 percent so far this week, its biggest since the week ended December 8, 2017, added report.
US gold futures were down 0.1% at $1,331.2 per ounce.