Latest News Today – Yellow Metal Shows Nominal Rise, Silver Moves Up


Gold Price Today: Yellow metal prices showed a nominal rise

Yellow metal prices witnessed a nominal rise on Monday as on the Multi-Commodity Exchange (MCX), August gold contracts jumped 0.25 per cent to Rs 47,653 for 10 grams. Silver also moved upwards as September futures climbed 0.04 per cent to reach Rs 67,194 per kilogram.

Meanwhile in the international market, gold prices witnessed a fall as spot gold dropped by 0.1 per cent to $1,799.89 per ounce. US gold futures fell by a meagre margin of 0.2 per cent to $1,798.90 per ounce.

Globally, investors are keeping a close watch on the Federal Open Market Committee’s meeting this week. It is generally being speculated that the US central bank will keep the policy rates and stance unchanged during the meeting. 

“COMEX gold trades marginally higher near $1,807 per ounce after a 0.2 per cent decline in previous session. Gold inched up amid choppiness in US dollar, increasing virus concerns, US-China tensions and China’s crackdown on technology firms. However, weighing on price is continuing ETF outflows, weaker consumer demand and uncertainty ahead of the Fed meeting this week. Gold may remain supported near $1,800 per ounce until dollar is steady,” said Ravindra Rao, Head Commodity Research at Kotak Securities.



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Latest News Today – Yellow Metal Slips, Silver Follows Suit


Gold Price Today: Yellow metal and silver fell slightly over global trends

Gold and silver prices in India slid slightly owing to a downwards trend in global rates with gold futures on MCX slipping to Rs 49,363 per 10 gram.

Silver futures fell 0.6 per cent to Rs 71,832 per kg. In the previous session, gold had risen to over 4-month high of Rs 49,700 per 10 gram. In India, gold rates have jumped about Rs 5,000 in past two months amid global rebound. 

In global markets, gold came down after a five-month high as higher US bond yields weighed on precious metal. Strong US economic data also took away some shine off the precious metal.

Spot gold was down 0.1 per cent at $1,898.58 per ounce, after hitting a near 5-month high of $1,916.40 on Tuesday. The dollar also strengthened against other currencies.

Gold watchers would be keenly awaiting the US employment report for May, which will be released on Friday. Also top Fed officials, including Robert Kaplan and Charles Evans, are set to speak today.

Among other precious metals, silver edged 0.1% lower to $27.88, and platinum was steady at $1,191.



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