Zee Media Bureau
New Delhi: Gold prices continued its slide for the fourth consecutive yesterday by dipping below Rs 25,000 to trade at over four-year.
Gold fell by Rs 40 to Rs 24,980 per 10 grams at the domestic bullion market.
Here are five reasons behind fall of the yellow metal.
1. There was an easing demand from jewellers as retailers deferred their buying plans on hopes of further dip in the yellow metal prices.
2. Bullion traders saw a weak trend in gold where it traded at nearly five-year lows in global markets in anticipation of a possible rate hike by the US Federal Reserve in coming months.
3. The sentiment lifted dollar, eroding demand for the precious metal as an alternative investment, and dragged down gold prices to over four-year lows in the national capital.
4. Drying up of demand from retailers as well as jewellers on hopes of further dip in prices too dampened trading sentiments.
With Agency Inputs
