Gold, Silver Continue To Fall On Weak Global Cues

Gold prices today declined by Rs 100 and touched Rs 26,780 per ten gram at Delhi’s bullion market. Silver too fell by Rs 450 to Rs 36,750 per kg. As per market analysts, the main cause behind the dip in prices was weak global cues.

In Singapore, which influences the price in India, gold fell by 1% to $1,185.82 an ounce and silver by 2.1% to $16.16 an ounce.

"Gold is stuck on either side of $1,200 with a break of $1,190 or $1,205 needed for the next leg in either direction," said Jason Cerisola, metals dealer at MKS Group. "(Precious) metals are likely to remain quiet ahead of the US holiday and the Swiss referendum on the weekend," he added.