Gold prices slipped Rs 1,215 to Rs 45,713 per 10 gram in the Mumbai bullion market on rupee appreciation and a strong stock market. The precious metal came under pressure after US President Donald Trump’s plans to resume the US economy and optimism on potential coronavirus drug development.
Major gold-trading centres have remained shut in the country due to the lockdown announced to prevent the spread of coronavirus.
The rate of 10 gram 22-carat gold in Mumbai was Rs 41,873 plus 3 percent GST, while 24-carat 10 gram was Rs 45,713 plus GST. The 18-carat gold quoted at Rs 34,285 plus GST in the retail market.
The broader trend on the domestic front, prices could hover in the range of Rs 45,500-46,450. So if you are looking to buy gold, this is the best time to buy Gold in small lots.
Silver prices dropped Rs 1,280 to Rs 42,270 per kg from its closing on April 17.