Gold Logs First Loss In Four Days: 5 Things To Know

INSUBCONTINENT EXCLUSIVE:
Sovereign gold held steady at Rs 25,000 per piece of 8 gram.Snapping a three-day gaining streak, gold prices on Wednesday fell by Rs 110 to
close at Rs 32,540 per 10 gram at the bullion market in the national capital, reported Press Trust of India (PTI)
The fall in prices was mainly due to weaker demand from local jewellers and negative global cues, traders were quoted as saying in the PTI
report
Sovereign gold, however, held steady at Rs 25,000 per piece of 8 gram
In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 110 each to 32,540 and Rs 32,390 per 10 gram,
Globally, gold traded lower at $1,242.08 an ounce in New York, while silver held steady at $14.57 an ounce
"MCX gold is trading with negative momentum for yet another session as rupee has appreciated from intraday high levels
In the international market the yellow metal is supported due to rise in holding of exchange-traded-funds amid political risk in the UK,"
said Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Commodities.3