October 20, 2017

MTECHTIPS

 

MTECHTIPS:Gold slips from records on stockists selling

 

Gold prices today slipped from record high levels by losing Rs 35 to Rs 32,940 per 10 grams due to fresh selling by stockists sparked by sharp fall in overseas markets.Reduced offtake at existing higher levels further put pressure on the precious metals prices. Silver followed suit and plunged by Rs 1,000 to Rs 62,000 per kg on reduced offtake by industrial units and coin makers. Traders said stockist selling in tandem with a weak global trend where gold and silver fell the most in more than three weeks amid concern that budget talks to avoid the US fiscal cliff are making little progress, mainly influenced the sentiment.

 

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