The gold rate drops below Rs 49,200 per 10 grams due to a weak trend in the international market

Following a three-day winning streak, the gold prices slipped to Rs 49,140 per 10 grams, on Friday. This was due to a weak trend in the international market. According to the prices that were mentioned by the Indian Bullion and Jewellers Association, the closing rate without GST for gold (purity-999) was Rs 49,140 and for gold with purity-995 was Rs 48,943, on January 22. On the other hand, silver prices also declined to Rs 65,792 by the end of Friday.

Gold prices, on the Multi Commodity Exchange, for February delivery were declined by 0.29 percent, which amounts to Rs 49,304 per 10 grams in a business turnover of about 5,435 lots. Gold was trading by 0.37 percent lower at USD 1,862.30 per ounce in New York, in the international market.

In the meantime, on Friday, the Indian rupee, slipped by 4 paise to 73.03 against the US dollar in opening trade in line with certain cautious domestic equities.

Although, the weaker American currency and sustained foreign fund inflows gave some support to the rupee to restrict its fall to a certain extent. In the Friday morning session, The domestic unit, at the interbank foreign exchange market, opened lower and went on to touch the lowest level. Through this, they registered a 4 paise loss over the previous close.


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