Press Esc to close
Sunday 26 June 2016
News updated at 8:22 PM IST
Weather
Max: 27.5°C
Min : 19.4°C
In Bengaluru
Generally cloudy

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
A man pushes his bike through a waterlogged road during rains in Jammu...

A man pushes his bike through a waterlogged road during rains in Jammu...

Narendra Modi interacts with Vaishali whose heart surgery was funded by the PMO...

Narendra Modi interacts with Vaishali whose heart surgery was funded by the PMO...

A Hindu devotee performs a stunt with fire during a rehearsal for the annual Rath Yatra...

A Hindu devotee performs a stunt with fire during a rehearsal for the annual Rath Yatra...

Mysuru Royal family scion Yaduveera Krishnadatta Chamaraja Wadiyar's wedding rituals, at Mysuru...

Mysuru Royal family scion Yaduveera Krishnadatta Chamaraja Wadiyar's wedding rituals, at Mysuru...

Sunny Leone at a press conference in Chennai...

Sunny Leone at a press conference in Chennai...

Senior police and CRPF officers carry the bodies of Central Reserve Police Force...

Senior police and CRPF officers carry the bodies of Central Reserve Police Force...

Renowned sand artist Sudarsan Pattnaik creates a sand sculpture to congratulate Athlete Dutee chand

Renowned sand artist Sudarsan Pattnaik creates a sand sculpture to congratulate Athlete Dutee chand

Cricketer Virat Kohli sings the national anthem during the opening ceremony of the Pro Kabaddi...

Cricketer Virat Kohli sings the national anthem during the opening ceremony of the Pro Kabaddi...

Security forces inspecting the CRPF bus which was attacked by militants on Srinagar-Jammu National..

Security forces inspecting the CRPF bus which was attacked by militants on Srinagar-Jammu National..

Uttar Pradesh Chief Minister Akhilesh Yadav at a roza iftar party in Lucknow...

Uttar Pradesh Chief Minister Akhilesh Yadav at a roza iftar party in Lucknow...

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