Gold prices edged lower in listless trade at the bullion market on Tuesday due to lack of buying interest from stockists and retailers.
Symbol: GOLD| Contract: Apr, 2018| Category: Bullion
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Benchmark spot gold prices were headed for an about 1 per cent weekly decline, having hit a near three-month low of $1,264.15 on Friday. The drop in rates, however, failed to reignite interest for gold in most Asian hubs.
For the subscription period from October 23-25, the issue price will be Rs 2,971 per gram with Settlement on October 30, a Finance Ministry statement said.
The slide in gold prices was attributed to absence of worthwhile activity as jewellers and retailers made token purchases on the auspicious occasion of Diwali and the beginning of Samvat 2074.
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