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Gold and Petrol prices slashed for fourth consecutive day

The Gold and silver prices dropped by as much as Rs 157 in early trade from the previous close on Sunday. This is the fourth consecutive price drop in prices of gold. Earlier the prices had dipped on Friday and Saturday after Trump’s remarks on Sino-US trade, uncertainty over Brexit and US-China trade talks.

Gold: Rs 38002 per 10 grams of pure gold on MCX.

Lower prices and discounts are expected to attract customers ahead of the ‘Diwali’ festival when buying gold is considered auspicious. Earlier, consumers were struggling to adapt to higher prices as sales dropped nearly 50 per centas compared to last year during Dussehra, the Economic Times reported.

Though the pricehas seen a drop of nearly Rs 1800 per 10 grams of pure gold. The prices have surged more than 21 per cent in 2019, the report said.

The report also claimed that gold imports in India have plunged by 68 per cent on ayearly basis in September, its lowest since the last three years, quoting a government source.

Meanwhile, Prices of silver saw a drop of Rs 71 to Rs 45350 per kg in opening trade.

Petrol prices also dropped for thefourth consecutive day on Sunday. It dipped by 6 paise to Rs 73.38 perlitrein Delhi. The overall prices have seen a drop of 27paisein thelast four days. The relief comes ahead of assembly polls in states such as Maharashtra, Haryana and Delhi. Earlier, the fuel prices had rose as much as Rs 2 after the immediate aftermath of drone attack on Saudi oil supplies.

Diesel prices, however, rose by 6 paise to Rs 66.52 perlitrefor the first time in October.

The price of crude oil soared by 1.93 per cent to USD to 60.69 per barrel of Brent crude on Friday.

Petrol:

Rs76.02 perlitrein Kolkata

Rs76.26 perlitrein Chennai

Rs78.99 perlitrein Mumbai

Diesel:

Rs68.87 perlitrein Kolkata

Rs68.72 perlitrein Mumbai

Rs70.26 perlitrein Chennai

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