 "Global gold, crude oil prices decline")
Gold and crude oil prices declined on the international markets on Wednesday, with a massive sell-off in exchange-traded funds (ETFs) and a strong dollar causing the fall in gold, while crude prices cooled due to a sell-off amid weak demand from major economies.
Gold prices fell below $1,400 an ounce and Brent crude oil prices fell to a low of $100.75 per barrel.
The precious metal was trading at $1,395.75 per ounce and had fallen to a low $1,391.30 per ounce. On the Multi-Commodity Exchange (MCX), gold was trading at Rs 26,214 per 10 g, down by 1.8 per cent.
On the MCX, spot gold prices fell to Rs 25,695 per 10 g. On the Mumbai spot market, the yellow metal cost Rs 25,680 per 10 g.
Gold prices fell below $1,400 an ounce and Brent crude oil prices fell to a low of $100.75 per barrel.
The precious metal was trading at $1,395.75 per ounce and had fallen to a low $1,391.30 per ounce. On the Multi-Commodity Exchange (MCX), gold was trading at Rs 26,214 per 10 g, down by 1.8 per cent.
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Brent crude oil was trading at $101.19 per barrel. Gold ETF holdings with SPDR has fallen to a four-year low of 33.81 million ounces. In December, gold ETF holdings with SPDR was 43.51 million ounces. These have since fallen 29 per cent. Gold prices fell to $1,345.95 per ounce on April 15.
On the MCX, spot gold prices fell to Rs 25,695 per 10 g. On the Mumbai spot market, the yellow metal cost Rs 25,680 per 10 g.