Press Esc to close
Tuesday 28 July 2015
News updated at 8:49 PM IST
Weather
Max: 19°C
Min : 32°C
In Bengaluru
Rain lightly

Gold prices tumble

New Delhi, May 20, 2013, Agencies:

Gold hit a 21-month low and silver prices plunged to a two-and-a-half-year level on Monday. Experts said that this happened because of the strengthening of the dollar. According to MCX data, gold price plummeted to Rs 25,574 per 10 gm (down Rs 261) and silver dipped to Rs 41,459 per 1 kg (down Rs 1,170).

“This slow and steady fall of gold price is mainly due to strengthening of the dollar against the rupee. Euro is also doing better and Spain has clocked positive balance of payment,” Pankaj Parekh, vice-chairman of the Gems & Jewellery Export Promotion Council said. He emphasised that the economic situation globally is improving and stock exchanges across the world are bullish.

Gold touched Rs 25,766 per 10 gm in April 17 from a peak of Rs 32,464 per 10 gram struck in November last year. “A month ago, gold prices dipped to similar level and from there it bounced back to Rs 27,500 per 10 grams level a fortnight back. The prices are dipping and recouping.

It has remained range-bound between Rs 26,000 and Rs 27,500 per 10 grams over the last one month,” said Rahul Gupta, director, PP Jewellers.


Go to Top

Photo Gallery
Artist Ramzan Hussain makes a pencil sketch of former President APJ Abdul Kalam...

Artist Ramzan Hussain makes a pencil sketch of former President APJ Abdul Kalam...

SSM School students during the condolence meeting of Former President APJ Abdul Kalam...

SSM School students during the condolence meeting of Former President APJ Abdul Kalam...

School children in tears as they light candles to pay tribute to former President APJ Abdul Kalam..

School children in tears as they light candles to pay tribute to former President APJ Abdul Kalam..

Sachin Tendulkar paying his last respects to former President APJ Abdul Kalam...

Sachin Tendulkar paying his last respects to former President APJ Abdul Kalam...

Pranab Mukherjee laying a wreath on the mortal remains of former President APJ Abdul Kalam...

Pranab Mukherjee laying a wreath on the mortal remains of former President APJ Abdul Kalam...

Narendra Modi pays respect after the body of former President A.P.J. Abdul Kalam...

Narendra Modi pays respect after the body of former President A.P.J. Abdul Kalam...

Indian Air Force personnel pay their respects to former President of India APJ Abdul Kalam...

Indian Air Force personnel pay their respects to former President of India APJ Abdul Kalam...

Bullet holes are seen on the windscreen of a car that was damaged in a gunfight...

Bullet holes are seen on the windscreen of a car that was damaged in a gunfight...

Police personnel during an encounter with the militants who attacked a police station...

Police personnel during an encounter with the militants who attacked a police station...

An Indian policeman takes position during a fight in the town of Dinanagar...

An Indian policeman takes position during a fight in the town of Dinanagar...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523