Gold prices plummeted
by Rs 195 to Rs 26,675 per 10 grams at the bullion market in the national
capital today due to a weakening trend overseas.
Slackened demand from
jewellers and retailers at current levels also kept pressure on prices of the
precious metal.
Silver followed suit
and ended lower by Rs 200 to Rs 36,700 per kg on lack of buying support from industrial
units and coin makers.
Bullion traders
attributed the fall in Gold prices to a weakening global trend after the US
added the largest number of jobs in almost three years, fuelling concerns that
the Federal Reserve will move closer to raising interest rates.
Strengthening dollar
against other currencies also reduced the appeal of bullion as an alternative
asset, they said.
Globally, gold in New
York dropped by 1.4 per cent to $1,190.40 an ounce and silver by 1.9 per cent
to $16.25 an ounce in yesterday's trade.
In Delhi, gold of 99.9
and 99.5 per cent purity tumbled by Rs 195 each to Rs 26,675 and Rs 26,475 per
10 grams, respectively.
Sovereign, however,
remained steady at Rs 23,700 per piece of eight grams in restricted buying.
Silver ready remained
under selling pressure and shed another Rs 200 at Rs 36,700 per kg.
However, weekly-based
delivery traded higher by Rs 200 to Rs 36,700 per kg on increased buying by
speculators.
On the other hand,
silver coins continued to be asked at last level of Rs 62,000 for buying and Rs
63,000 for selling of 100 pieces in scattered deals.
Goldcorp
Inc. (USA) (NYSE:GG)
is involved in the acquisition, exploration, development, and operation of
precious metal properties in Canada, the United States, Mexico, and Central and
South America. The Company shares are trading +15.12% above their 52 week low
price after the last close and -33.58% below the 52 week high. Its latest
closing price was down -20.95% from the average-price of 200 days while it kept
its distance from the SMA50 at -8.83% and -3.27% compared with the SMA 20.
Shares of AngloGold
Ashanti Limited (ADR) (NYSE:AU)
were +5.58% up 52 week lows as of the latest close and -56.26% below the 52 week
high. Its latest closing price was down -44.22% from the average-price of 200
days while it maintained a distance from the SMA 50 at -15.15% and -8.79%
compared with the SMA 20. AngloGold Ashanti Limited works as a gold mining and
exploration company. It also produces silver, uranium oxide, and sulphuric acid
as by-products.
AuRico
Gold Inc (NYSE:AUQ)
works as a gold producer with mines and projects in North America. The stock’s
latest price traded at +16.10% up 52 week lows after the closing bell and was -36.39%
behind its 52 week high. Its latest closing price was -16.32% below the SMA200
while the distance from the SMA 50 and SMA 20 was -5.98% and -7.62%
respectively.
Allied
Nevada Gold Corp. (NYSEMKT:ANV)
a gold producer, is engaged in the mining, development, and exploration of
properties in Nevada. The company's major products comprise unrefined gold and
silver bars. The Company so far this year has moved down -61.13% and its
monthly performance stands at +60.47%. The stock was up +62.35% from its 52
week low and was -79.40% below the 52 week high. Its latest closing price was
down -59.09% from the average-price of 200 days while it kept its distance from
the SMA50 at -33.21% and -6.54% compared with the SMA 20.
TAGS:
Goldcorp
, NYSE:GG, AngloGold
Ashanti , NYSE:AU, AuRico
Gold , NYSE:AUQ, Allied
Nevada Gold , NYSEMKT:ANV, GG,AU,AUQ,ANV
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