Gold prices dip to one-week low, petrol prices slashed for sixth consecutive day
Pure gold was sold at Rs 39,220 per 10 grams of pure gold.
Updated: Tue, 08 Oct 2019 01:10 PM IST
New Delhi | Jagran Biz Desk: Gold prices fell nearly one-week low on Tuesday and declined for third straight session due to a weakening rupee ahead of trade talks between the US and China. At 11.57 am, spot gold fell 0.3 per cent to Rs 39,220 from the previous close of Rs 39,439 per 10 grams of pure gold.
Top-level trade talks will resume between US Trade Representative Robert Lighthizer, Treasury Secretary Steven and Chinese Vice Premier Liu He on Thursday.
Among other precious metals, silver slipped 0.6 per cent to Rs 48, 500 per kg, while platinum rose 0.4 per cent each to USD 880.25.
Asian shares soared in the early trade, but remained cautious as President Donald Trump said was unlikely as Washington blacklisted Chinese companies over Beijing's treatment of predominantly Muslim ethnic minorities, reported PTI. Indian equity markets were closed on account of the Dussehra festival.
The uncertainty has led to a strengthening dollar overnight. Trade talk is likely to proceed ahead of US Tariffs on USD 250 billion worth of Chinese goods to 30 per cent from 25 per cent on October 15.
The report said data from China on Tuesday did not do much to cheer markets after the services sector grew at its slowest pace in seven months in September, despite an increase in orders.
Investors are now waiting for a US Fed meeting for clues whether the world's powerful central bank will cut interest rates for the third time.
Price prices reduced by 17 paise, Diesel prices low by 10 paise
Fuel prices on Tuesday continued its losses for sixth straight days. Petrol prices fell by 17 paise to Rs 73.65 per litre in Delhi while Diesel was sold at Rs 66.87 per litre in Delhi.
Overall the prices have slumped by 97 paisa and 49 paisa respectively. Cuts were even higher in other cities such as Mumbai and Kolkata. The price reduction comes ahead of the Diwali festival and upcoming polls in states such as Maharashtra, Haryana and Delhi. Meanwhile, Brent crude opened on a flat note on Tuesday.
Petrol per Litre:
Rs 73.65 in Delhi, Rs 76.29 in Kolkata, Rs 79.26 in Mumbai and 76.49 in Chennai
Diesel per litre :
Rs 66.97 in Delhi, Rs 70.09 in Mumbai, Rs 69.22 in Kolkata and Rs 70.63 in Chennai
Posted By: James Kuanal