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 Trades Flat, Silver Shows Rise

Gold price today: Yellow metal traded flat as investors wait for US Federal Reserve meeting outcome

Gold prices showed a meagre jump on Wednesday, as on MCX, the yellow metal August futures traded at Rs 48,460 per 10 grams. On the other hand, silver showed a decent jump as its July futures were at Rs 71,475 per kg, showing a jump of Rs 227 over the previous session.

The flat trajectory of gold prices continued for the second day today as investors across the world awaited the result of the US Federal Reserve meeting.

Globally, spot gold was down at $1,861.96 per ounce, after falling to its lowest since May 17 at $1,843.99 on Monday. US gold futures meanwhile eased to $1,863.10.

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Latest News Today – Yellow Metal Breaks Losing Streak, Trades At Rs 47,256

Gold and silver prices soared today breaking losing streak

Breaking its five-day declining streak, MCX gold June futures on Thursday were trading higher at Rs 47,256 per 10 gram, as against the previous close of Rs 47,093. MCX silver June futures too moved up and were at Rs 69,788 per kg. Silver futures had closed at Rs 69,043 per kg in the previous session.

Gold prices broke their free fall after the US Federal Reserve decided to keep the interest rates unchanged to near zero in its meeting which ended on April 28.

Meanwhile internationally, gold prices rose on Thursday propelled by the US Federal Reserve’s announcement to implement a friendly monetary policy aimed at helping economic recovery. At the same time, a weaker dollar provided further support.

Spot gold was up 0.2 per cent at $1,784.94 per ounce, having dipped to $1,762 in the previous session, its lowest since April 16. US gold futures rose 0.6 per cent to $1,784.50 per ounce.

The dollar index edged 0.1 per cent lower against its rivals, boosting gold’s appeal for other currency holders.

Concerns over the economic impact of the second wave of corona pandemic and a softer US dollar also benefited the yellow metal. 

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