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Gold Prices Slightly on Downside

Live Gold Trend

Gold futures prices on Tuesday extended losses in early trade on sustained offloading by speculators after it dipped to over two-year low overseas. Gold prices, which had been plummeting since last week, fell by another Rs 364, or 1.41 percent, to trade at a 19-month low ( lowest level since Sept 2011) of Rs 25,270 per 10 grams for delivery in June at the Multi Commodity Exchange ( MCX). 

Spot gold fell as low as USD1,321.35 an ounce and stood at USD 1,341.94, down USD10.81 per ounce while silver shed nearly 2 percent to USD 22.11 per ounce. 

GOLD- Rs 25,810, SILVER- Rs 46,150 
GOLD- Rs 27,600 / SILVER- Rs 48,000 

However, Indian investors need not be worried about a steep fall in prices. The 1980 crash in gold was not felt in India because the appreciation of the dollar against the rupee buoyed the domestic prices. The situation right now is similar, with the rupee having fallen against major global currencies
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