Latest News Today – Gold Trades In Negative Territory Amid Weak Global Cues,


Gold Price Today: Domestic spot gold closed at Rs 48,578 per 10 grams on Friday

Gold Price In India: Gold futures were traded lower on Friday, June 4, as the yellow metal traded in negative territory amid weaker global markets. Gold prices in international markets traded sideways to a moderately bullish trend and are set to record their worst week in three months. On Multi Commodity Exchange (MCX), gold futures due for a June 4 delivery, were last seen trading lower by Rs 390 – or 0.8 per cent – at Rs 48,600, compared to their previous close of Rs 48,990. Silver futures for a July 5 delivery were last up 0.9 per cent at Rs 71,450 against a previous close of Rs 70,810.

Domestic spot gold closed at Rs 48,578 per 10 grams on Friday, and silver at Rs 70,167 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).  
 

What analysts say:

Kshitij Purohit, Product Manager, Currency & Commodities, CapitalVia Global Research Limited:

”Technically, International Gold is trading in a sideways range during the Asian European session after initial loss, between $1867 – $1871, likely to continue in marginally upside momentum towards the resistance of $1876. MCX Gold future has sustained in the range of 48600 – 48680 today and if it breaks above the resistance of 48715, we may expect a move towards 48840 – 49040.

Like Gold, International Silver is also trading in narrow sideways range of $27.25 – $27.40 since morning. The resistance holds near $27.47 and if the price breaks above this resistance, we may anticipate a move towards $27.75. MCX Silver future has sustained around the level of 70700 and trading back & forth, tested the resistance of 70850. The price is likely to be marginally positive and may move towards the psychological level of 71000 – 71250.”

Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities:

“COMEX gold trades modestly lower near $1869/oz. Gold has fallen sharply as upbeat US economic data has pushed US dollar index and bond yields higher while adding to debate that Fed may tighten monetary policy. US equity markets have also stabilized on President Biden’s tax proposal. Gold’s sharp up move in last few weeks has made it vulnerable to profit taking which may extend further if US dollar strengthens further.”





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Latest News Today – Gold Futures Trades Higher To Make 4-Month High, Yellow


Gold Rates Today: Domestic spot gold closed at Rs 49,195 per 10 grams on Wednesday

Gold Price In India: Gold futures were traded higher on Wednesday, May 26, showing strength and a safe-haven demand as the rally in yellow metal smashed the Rs 49,000 mark earlier today to make a four-month high. On Multi Commodity Exchange (MCX), gold futures due for a June 4 delivery, were last seen trading higher by Rs 172 – or 0.35 per cent – at Rs 49,039, having swung between Rs 48,908 and Rs 49,220 during the session so far, compared to their previous close of Rs 48,867. Silver futures for a July 5 delivery were last down 0.35 per cent at Rs 71,891, against a previous close of Rs 72,140. (Also Read: Second Tranche Of Gold Bonds Scheme Opens On May 24: Check Issue Price )

Domestic spot gold closed at Rs 49,195 per 10 grams on Wednesday, and silver at Rs 71,866 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).  
 

Gold Price Today: 26 May 2021: Gold Smashes Rs 49,000 Mark; Should You Buy?

Here’s what analysts say:


 

Mr. Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services:

“The yellow metal has continued to show strength and the safe-haven demand will remain intact in general. While, DXY is struggling to extend recovery moves. MCX gold has hit the higher end of the range around 49000, further upside is possible only if prices hold on to these areas for few sessions. Else a correction towards 48000/47500 should be seen.”

Mr. Nish Bhatt, Founder & CEO, Millwood Kane International – an investment consulting firm.

“Gold prices have been steadily rising in the past few sessions tracking international gold futures prices. The rally in the yellow metal continued past Rs 49,000/10gm earlier today to make a four-month high. The rise in the yellow metal has been on account of the fall in US Treasury yields, softer US dollar which pushes up the gold prices.”

”The current scenario combined with the rising number of cases due to the second wave will lead to investors turning to a safe haven and help further rally in gold prices,” added Mr Bhatt.

Kshitij Purohit, Product Manager, Currency & Commodities, CapitalVia Global Research Limited. 

”Technically, International Gold is trading with bullish momentum. Psychological levels of $1900 were breached earlier today and market is sustaining above them. On the domestic front, MCX Gold June gave a gap up opening and is trading positive bias since morning.”

”Like gold, international silver is also trading with bullish momentum. Prices breached $28.00 levels and are trading above them. In the upcoming sessions, market may take a pullback before a rally is initiated. MCX Silver July gave a gap up opening and is trading in a sideways range of 72319-72681 since morning.”

Meanwhile, in the international markets, gold prices firmed above the key $1,900 level today, boosted by weaker U.S. Treasury yields and amid expectations that the U.S. Federal Reserve will maintain a dovish monetary policy stance.

Mr. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services:

“Gold prices continue to trade higher, as it breached the physiological level of $1900 hovering around 4-1/2-month high amidst a drop in U.S. Treasury yields and a weaker dollar. The dollar index was pinned near almost a 4-1/2- month low against its rivals…Broader range on COMEX could be between $1870- 1920 and on the domestic front prices could hover in the range of Rs 48,800- 49,360.”

Ravindra Rao, VP- Head Commodity Research at Kotak Securities:

“COMEX gold trades 0.4 per cent higher near $1906/oz after a 0.7 per cent gain yesterday. Gold has jumped to Jan. highs amid mixed US economic data, dovish Fed comments, weaker US dollar, choppy equities and pickup in ETF buying.”

”However, weighing on price are concerns about Indian demand and easing geopolitical tensions. Building on the gains noted in the last few weeks, gold has breached the key $1900/oz level indicating strong upward momentum however any stability in the equity market or US dollar may be enough to trigger a profit taking move,” added Mr Rao.





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Latest News Today – Gold Futures Sheds Over 200 Points, Trades Below Rs


Gold Rates Today: Domestic spot gold closed at Rs 46,930 per 10 grams on Thursday

Gold Price In India: Gold futures opened at a gapped up level of Rs 47,245, up by almost 150 points from its previous closing on Thursday, April 29, however, it continued a bearish momentum and declined by more than 200 points towards the evening, giving up its Rs 47,000 mark. On Multi Commodity Exchange (MCX), gold futures due for a June 4 delivery, were last seen trading lower by Rs 369 – or 0.78 per cent – at Rs 46,724, having swung between Rs 46,462 and Rs 47,299 during the session so far, compared to their previous close of Rs 47,093. Silver futures for a May 5 delivery were last down 0.62 per cent at Rs 67,365. (Also Read: Is Silver The New Gold?
 

Domestic spot gold closed at Rs 46,930 per 10 grams on Thursday, and silver at Rs 68,460 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).  

”MCX Gold June gave a gap up opening and has been on a declining spree since then. It has declined more than 200 points and tested the support of 47000-46800 levels. We may expect a marginal rise from the support and test 47100- 47150 levels on the upside. This rise could act as a selling opportunity for the investors,” said Kshitij Purohit, Product Manager, Currency and Commodities, CapitalVia Global Research Limited. 

”Gold prices rose after a brief consolidation witnessed in the previous session, bolstered by the U.S. Federal Reserve’s pledge to maintain easy monetary policy to aid economic recovery, while a weaker dollar provided further support,” said Mr. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services.

In global markets, gold fell today giving up early gains as U.S. Treasury yields rose ahead of the U.S. economic data, while persistent supply concerns pushed palladium to an all-time peak. ”Global gold demand in the first quarter dropped from a year ago on the back of a more than 70 per cent year-on-year decline in gold investments, according to a report from the World Gold Council released Thursday,” said Mr Purohit.

What analysts say:

“COMEX gold trades about 0.8 per cent higher near $1788/oz after a 0.3 per cent decline yesterday. Gold has edged up as the US dollar index slumped to one-month low on back of Fed’s decision to maintain its accommodative stance despite improving outlook for the US economy. Also supporting gold is hopes of additional stimulus measures by the Biden administration,” said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.

”However, weighing on price is weaker investor buying and concerns about Indian demand. Gold may remain choppy reflecting trend in US dollar as market players counter Fed’s dovish stance against improving economic outlook,” added Mr Rao.





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Latest News Today – Gold Futures Fell Over 400 Points In Morning Session,


Gold Rates Today: Domestic spot gold closed at Rs 46,859 per 10 grams on Wednesday

Gold Price In India: Witnessing a volatile trading session in red throughout the day, domestic gold futures declined more than 400 points in the morning session on Wednesday, April 28. On Multi Commodity Exchange (MCX), gold futures due for a June 4 delivery, were last seen trading lower by Rs 116 – or 0.25 per cent – at Rs 47,187, having swung between Rs 46,800 and Rs 47,273 during the session so far, compared to their previous close of Rs 47,303. Silver futures for a May 5 delivery were last down 1.32 per cent at Rs 68,050. (Also Read: Is Silver The New Gold?

Domestic spot gold closed at Rs 46,859 per 10 grams on Wednesday, and silver at Rs 67,700 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). 

”On the domestic front, MCX Gold June gave a gap down opening and has declined more than 400 points in the morning session. Prices breached 47000 levels and are trading below them. We may expect bears to dominate the evening session and test 46500 levels on the downside,” said  Kshitij Purohit, Product Manager, Currency and Commodities, CapitalVia Global Research Limited. 

Meanwhile, in global markets, gold slipped to a one-week low on Wednesday, pressured by a steep rise in U.S. Treasury yields and a stronger American currency, as investors awaited the Federal Reserve’s policy decision.

What analysts say:

”International Gold and Silver prices are trading on weaker note due to strong US Treasury yields and US dollar….Technically, International Gold is trading with bearish momentum and is sustaining above support of $1760-$1765 levels. We may expect a rise in prices to breach these levels in the upcoming sessions,” said Mr Purohit.
 

”COMEX gold trades about 0.5 per cent lower near $1769/oz after a 0.1 per cent decline yesterday,” said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.

”Also weighing on price is weaker investor interest and concerns about consumer demand in India. However, supporting price is rising virus cases and loose monetary policy stance of major central banks. Gold may remain choppy ahead of Fed decision however we do not expect a sustained decline as Fed is most likely to reaffirm its dovish stance,” he added.





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Latest News Today – Gold Futures Falls Over 300 Points; Trades Below Rs


Gold Rates Today: Domestic spot gold closed at Rs 47,814 per 10 grams on Thursday

Gold Price In India: Witnessing a volatile trading session throughout the day, domestic gold futures declined more than 300 points on Thursday, April 22. On Multi Commodity Exchange (MCX), gold futures due for a June 4 delivery, were last seen trading lower by Rs 455 – or 0.94 per cent – at Rs 47,773, having swung between Rs 47,660 and Rs 48,260 during the session so far, compared to their previous close of Rs 48,228. Silver futures for a May 5 delivery were last down 1.17 per cent at Rs 69,516. MCX Silver futures fell around 600 points since its previous close. (Also Read: Is Silver The New Gold?

Domestic spot gold closed at Rs 47,814 per 10 grams on Thursday, and silver at Rs 69,800 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).

”On the domestic front, MCX Gold June opened on a flat note and has declined more than 300 points since morning. Prices have taken the support of 50-SMA and may rise from here, testing 48250-48400 levels on the upside in the evening session,” said Kshitij Purohit, Product Manager, Currency & Commodities, CapitalVia Global Research Limited. 

”MCX Silver May opened on a flat note and has fallen approx 600 points since the previous close. Support of 69400-69150 levels may be tested in the upcoming session after which prices may rise and continue to trade in the uptrend,” he added.

Meanwhile, in global markets, gold declined, retreating from a two-month high as an upbeat jobs report in the US indicated steady economic recovery, that hurt the metal’s appeal. Palladium held its near an all-time high.

What analysts say:

”International Gold and Silver prices are trading marginally on the weaker side as Covid vaccination process around the globe has gained speed. Weaker US Treasury yields and US dollar has capped the precious metals’ appeal,” added Mr Purohit.

”COMEX gold trades mixed near $1795/oz after a 0.8 per cent gain yesterday. Gold remains supported by lower bond yields, general weakness in the US dollar, worsening virus situation and rising US-Russia tensions. However, weighing on price is lack of investor buying and concerns about India’s consumer demand owing to sharp price gains,” said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.





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Latest News Today – Gold Scales 7-Week Peak, Gold Futures Rebound To Trade


Gold Rates Today: Domestic spot gold opened at Rs 47,169 per 10 grams on Friday

Highlights

  • Gold futures traded above Rs 47,000 mark today
  • Gold prices may fall in the upcoming session, say experts
  • Gold scaled a seven-week peak today as US yields retreated

Gold Price In India: Domestic gold futures witnessed a volatile trading session on Friday, April 15. On Multi Commodity Exchange (MCX) gold futures, due for a June 4 delivery, were last seen trading higher by Rs 248 – or 0.53 per cent – at Rs 47,423, having swung between Rs 46,820 and Rs 47,432 during the session so far, compared to their previous close of Rs 47,175. Silver futures for a May 5 delivery were last up 0.77 per cent at Rs 69,068. Some experts believe that a pickup in the global economy may lead to subdued gold rates (Also Read: Is Silver The New Gold?

Some experts predict that domestic gold prices could hover in the range of Rs 46,850- 47,450. Domestic spot gold closed at Rs 47,169 per 10 grams on Friday, and silver at Rs 68,810 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).

Gold Scaled Seven-Week Peak As US Yields Retreat

Gold prices today scaled a seven-week high and were set for their best weekly gain since mid-December as a pullback in U.S treasury yields and the American currency lifted the yellow metal’s appeal. Some analysts expect a decline in prices in the upcoming session. Low prices could provide a good opportunity for traders to invest.

”International Gold and Silver prices are trading with gains as US Treasury yields and US dollar weakened, lifting the precious metals’ appeal……Technically, International Gold is trading bullish momentum. Prices breached the resistance of $1750- $1760 levels and are sustaining above them,” said Kshitij Purohit, Product Manager, Currency & Commodities, CapitalVia Global Research Limited.

”On the domestic front, MCX Gold June opened on a negative note and has been trading near the monthly high of 47279. A decline was witnessed in the early hours of the day which was covered in the afternoon session. We may expect a dip in prices in the upcoming session, which could act as a buying opportunity for the traders,” said Mr Purohit.

”Like Gold, International Silver is also trading with bullish momentum. Prices are sustaining above the resistance levels of $25.5-$25.6 and are trading at $26.20 levels for the first time in this month. MCX Silver May opened on a negative note and has been trading with positive bias below 69000 levels. We may expect a marginal fall in prices till the levels of 68600-68400 in the evening session after which bulls may dominate,” he added.

What analysts say:

“Gold traded higher to a more than one-month peak as U.S. Treasury yields slipped despite better than expected U.S. economic data, pushing investors to bullion as a refuge against possible inflation ahead. Concerns regarding inflation is increasing ahead of massive fiscal aids and ultra-low interest rates across the globe supporting the metal,” said Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

Gold prices also got a boost after the U.S. government imposed a broad array of sanctions on Russia as punishment for alleged misdeeds, including interfering in the 2020 U.S. election after a positive retail sales and weekly jobless claims… Broader range on COMEX could be between $1745- 1778 and on the domestic front prices could hover in the range of Rs 46,850- 47,450,” he added.

“The rise in the number of COVID19 cases, fear of the next wave coupled with rising inflation in the US, lower yields, weak US Dollar, and the QE program by the US government has also provided strength to the gold prices. The current situation of rising cases threatens to derail the economic recovery in Q1, create uncertainties. The situation may lead to elevated gold prices in the short term till the situation stabilizes,” said Mr. Nish Bhatt, Founder & CEO, Millwood Kane International – an investment consulting firm

”The retail demand in India has been rising due to festive season buying has also provided support to gold prices. A pick-up in global economic activity will lead to subdued gold prices, but the risk of the second wave, uncertainty remains which may guide gold prices in the longer term,” he added.





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Gold Price Today At Rs 43,887 Per 10 Grams, Silver Rate | Sidnaz Blog


Gold Rates Today: Domestic spot gold closed at Rs 44,516 per 10 grams on Friday

Gold Price in India: Domestic gold futures registered a volatile session on Friday, March 5, as gold prices dropped by Rs 522 to Rs 43,887 per 10 grams in the national capital, tracking weaker trend in the international markets, according to HDFC Securities. Silver rates also plunged by Rs 1,822 to Rs 64,805 per kg, compared with the previous close of Rs 66,627per kg. Multi Commodity Exchange (MCX) gold futures, due for delivery tomorrow, i.e., April 5, was last seen trading 0.15 per cent higher at Rs 44,607, having swung between Rs 44,2017 and Rs 44,649 during the session compared to their previous close of Rs 44,541. Silver futures were trading lower by 1.44 per cent at Rs 64,530. (Also Read: Sovereign Gold Bonds Subscription For 12th Trance Ends Today: All You Need To Know )
 

Domestic spot gold closed at Rs 44,516 per 10 grams on Friday, and silver at Rs 65,128 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). 

In the international market, gold was trading lower at $1,696 per ounce and silver was down at $ 25.20 an ounce. Meanwhile, the rupee declined by 19 paise to close at 73.02 against the dollar due to stronger American currency and risk aversion in global markets. Brent crude futures, the global oil benchmark, gained 2.59 per cent to $ 68.47 per barrel.

What Analysts Say

“Spot prices for 24 karat gold at Delhi fell by Rs 522 in COMEX (New York-based commodities exchange) gold prices,” said  Tapan Patel,  Senior Analyst (Commodities), HDFC Securities.

”Gold prices have been falling since the news of an effective vaccine was reported, as it has ignited hope that the rising number of cases will be arrested and the pandemic will end soon. Gold prices have fallen to hit an 8-month low on rising US Treasury yield, appreciating dollar, and global economic recovery. Moving forward, treasury yield, dollar movement, and the pace of economic recovery worldwide will guide gold prices.” Nish Bhatt, Founder, and CEO, Millwood Kane International. 

”Gold remains pressurized by firmness in the US dollar on the back of higher bond yields, optimism about the US economy and safe haven buying. Also weighing on gold price is continuing ETF outflows. However, supporting price is progress on US stimulus and loose monetary policy stance of major central banks. Gold may remain under pressure unless US bond yields correct or we see concrete measures on US stimulus,” said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.





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Gold Price Today At Rs 44,768 Per 10 Grams, Silver Rate | Sidnaz Blog


Gold Rates Today: Domestic spot gold closed at Rs 45,217 per 10 grams today

Gold Price in India: Domestic gold futures registered a negative session on Wednesday, March 3, as gold prices dropped by Rs 208 to Rs 44,768 per 10 grams in the national capital, tracking weak global bullion market trend, according to HDFC Securities. Silver rates also declined by Rs 602 to Rs 68,194 per kg, compared with the previous close of Rs 67,592 per kg. Multi Commodity Exchange (MCX) gold futures, due for delivery tomorrow, i.e., April 5, was last seen trading 1.16 per cent lower at Rs 44,813, having swung between Rs 44,670 and Rs 45,544 during the session compared to their previous close of Rs 45,548. Silver futures were trading lower by 1.32 per cent at Rs 66,450. (Also Read: Is Silver The New Gold?

Domestic spot gold closed at Rs 45,217 per 10 grams on Wednesday, and silver at Rs 67,919 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). 

“Spot prices for 24 karat gold in Delhi fell by Rs 208 in line with decline in global gold prices and rupee appreciation,” said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

In the international market, gold was trading lower at $ 1,730 an ounce and silver was also marginally down at $26.68 an ounce. 

”Gold has recovered from June 2020 amid retreat in US dollar and bond yields from recent highs, optimism about US stimulus package, renewed virus concerns, mixed economic data, loose monetary policy stance of central banks and minor ETF inflows. Gold may continue to sway along with US dollar however a sustained rise is unlikely until there is sharp correction in bond yields or concrete measures on US stimulus,” said Ravindra Rao, VP, Head Commodity Research at Kotak Securities.

Meanwhile, the rupee appreciated 65 paise to settle at 72.72 against the US dollar tracking positive domestic equities and weaker American currency. Brent crude futures, the global oil benchmark, gained 1.69 per cent to $ 63.76 per barrel.





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Gold Price Today At Rs 45,520 Per 10 Grams, Silver Rate | Sidnaz Blog


Gold Rates Today: Domestic spot gold closed at Rs 45,976 per 10 grams

Gold Price in India: Domestic gold futures witnessed a positive session On Monday, March 1, as gold prices rose by Rs 241 to Rs 45,520 per 10 grams in the national capital, tracking strong global bullion market trend, according to HDFC Securities. Silver rates also jumped by Rs 781 to Rs 68,877 per kg, compared with the previous close of 68,096 per kg. Multi Commodity Exchange (MCX) gold futures, due for delivery tomorrow, i.e., April 5, was last seen trading 0.19 per cent higher at Rs 45,825.00, having swung between Rs 45,626.00 and Rs 46,139.00 during the session compared to their previous close of Rs 45,736. Silver futures were trading higher by 1.49 per cent at Rs 68,265. (Also Read: Is Silver The New Gold?

Domestic spot gold closed at Rs 45,976 per 10 grams on Monday, and silver at Rs 68,466 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). 

“Spot prices for 24 karat gold in Delhi rose by Rs 241, in line with the recovery in global gold prices while rupee appreciation capped upside,” said Tapan Patel, HDFC Securities Senior Analyst (Commodities). The spot rupee was trading around 16 paise stronger against the dollar, halting three days of loss, during the intra-day session,” added HDFC Securities.

In the international markets, gold was trading stronger at $ 1,753 an ounce, while silver was up at $ 26.90 an ounce. 

“Gold bounced back on back of progress on US stimulus front and correction in US dollar and bond yields. However, weighing on price is continuing ETF outflows. Gold plunged sharply and we are now seeing some relief rally however sharp gains are unlikely until US bond yields correct sharply or US stimulus is approved,” said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.

Meanwhile, the rupee settled eight paise lower to 72.33 against the dollar tracking a rise in global crude oil prices. Brent crude futures, the global oil benchmark, rose 1.69 per cent to $ 65.51 per barrel.





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Gold Price Today At Rs 45,959 Per 10 Grams, Silver Rate | Sidnaz Blog


Gold Rates Today: Domestic spot gold closed at ₹46,637 per 10 grams

Gold Price in India: Amid the continuing slump in gold prices, domestic gold futures witnessed a volatile trading session again on Thursday, February 25. In the national capital, gold prices declined by Rs 358 to Rs 45,959 per 10 grams amid selling in the international markets, according to HDFC Securities. Silver rose by Rs 151 to Rs 69,159 per kg as compared to the previous close of Rs 69,008 per kg. Multi Commodity Exchange (MCX) gold futures, due for delivery tomorrow, i.e., April 5, was last seen trading 0.46 per cent lower at ₹ 46,310, having swung between ₹ 46,230 and ₹ 46,655 during the session compared to their previous close of ₹ 46,522. Silver futures were last trading higher by 0.46 per cent at Rs 69,862. (Also ReadIs Silver The New Gold?

“Spot prices for 24 karat gold at Delhi fell by Rs 358 in line with selling in global gold,” said Tapan Patel, HDFC Securities Senior Analyst (Commodities). In the international markets, gold was down at $ 1,792 an ounce, while Silver was trading marginally lower at $ 27.56 an ounce.

Domestic spot gold closed at ₹ 46,637 per 10 grams on Thursday, and silver at ₹ 70,179 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). 

“COMEX gold trades little changed near $1797/oz after a 0.4 per cent decline yesterday. Gold is choppy as support from Fed’s loose monetary policy stance and hopes of additional US stimulus measures is countered by higher bond yields, improving virus situation and continuing ETF outflows. Gold may remain directionless amid mixed cues however Fed’s loose monetary policy stance may continue to support,” said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.

Meanwhile, the rupee edged lower by eight paise to 72.43 against the US dollar today. Brent crude futures, the global oil benchmark, advanced 0.42 per cent to $ 67.32 per barrel.





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