Gold prices fall for the sixth straight session

New York (May 7)  Gold prices fell for the sixth consecutive session on May 6, 2017, declining by Rs 125 to Rs 28,725 per 10 grams in the bullion market due to a drop in demand from jewelers amid slumping global cues.

Gold ingots Gold prices fell for the sixth consecutive session on May 6, 2017, declining by Rs 125 to Rs 28,725 per 10 grams in the bullion market due to a drop in demand from jewelers amid slumping global cues.
 
 Following gold, silver also fell by Rs 225 to Rs 38,575 per kg. Fall in global trends along with a decline in local demand at the spot market is likely to put pressure on the prices of metals further also.      
 
 Globally, gold dropped by 0.01% to USD 1,227.90 an ounce in New York on May 5, 2017. Whereas in India, gold of 99.9% and 99.5% purity dropped by Rs 125 each to Rs 28,725 and Rs 28,575 per 10 grams, respectively.

Source: HFL