Synopsis
Gold futures on MCX were up 0.17 per cent or Rs 81 at Rs 47,853 per 10 grams. Silver futures advanced 0.16 per cent or Rs 112 to Rs 69,330 per kg.
Shutterstock.com
Spot gold was up 0.2 per cent at $1,787.11 per ounce by 0135 GMT, after hitting its highest since Feb. 25 at $1,797.67 on Thursday.
Related
NEW DELHI: Gold and silver futures were trading with gains on Friday as a softer US dollar, falling Treasury yields and a dip in equities after the US President Joe Biden s proposal to hike capital gains tax encouraged investors to flock towards bullion.
The dollar index fell 0.1 per cent against its rivals, making gold cheaper for other currency holders. US 10-year Treasury yield ticked lower on news that Biden will propose a tax hike for high earners, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers.
Gold rate today: Yellow metal trades at Rs 48,200; silver trades above Rs 70,300
SECTIONS
Gold rate today: Yellow metal trades at Rs 48,200; silver trades above Rs 70,300By
Share
Synopsis
Gold futures on MCX were down 0.06 per cent or Rs 28 at Rs 48,200 per 10 grams. Silver futures declined 0.03 per cent or Rs 22 to Rs 70,316 per kg.
Shutterstock.com
Spot gold was steady at $1,793.32 per ounce by 0244 GMT, after hitting its highest since Feb. 25 at $1,797.67.
Related
NEW DELHI: Gold and silver futures were trading below the flatline on Thursday but losses were checked by a sagging dollar and weaker US Treasury yields that boosted the metal s appeal.
NEW DELHI: Gold futures were trading lower on Tuesday after hitting a two-month high in the previous session, as a rise in US Treasury yields eclipsed support from a weaker dollar. On the other hand, silver futures gained.
Benchmark 10-year US Treasury yields rose above 1.6 per cent after hitting a five-week low last week, increasing the opportunity cost of holding non-yielding bullion. Gold is seen as a hedge against inflation that could follow stimulus measures, but higher Treasury yields have dulled some of the appeal of the non-yielding commodity this year.
Gold futures on MCX were down 0.18 per cent or Rs 86 at Rs 47,307 per 10 grams. Silver futures added 0.15 per cent or Rs 104 to Rs 68,428 per kg.
Gold price on Tuesday jumped to Rs 50,620 for 10 gm from Rs 50,420 and silver price is trending at Rs 69,200 per kg, according to the Good Returns website. Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes. In New Delhi, the price of 22-carat gold is at Rs 46,400 per 10 gm, while in Chennai it fell to Rs 44,950. The rate in Mumbai was Rs 45,070 according to the website. The price of 24-carat gold in Chennai was Rs 49,030 per 10 gm. Gold rallied by Rs 411 to Rs 47,291 per 10 gram in the national capital on Monday reflecting strong buying in the global precious metal and rupee depreciation, according to HDFC Securities.
Gold price on Friday was fell to Rs 50,030 for 10 gm from Rs 50,120 and silver price is trending at Rs 67,800 per kg, according to the Good Returns website. Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes. In New Delhi, the price of 22-carat gold is at Rs 45,860 per 10 gm, while in Chennai it fell to Rs 43,630. The rate in Mumbai was Rs 44,850 according to the website. The price of 24-carat gold in Chennai was Rs 47,600 per 10 gm. Gold jumped Rs 159 to Rs 46,301 per 10 gram in the national capital on Thursday reflecting recovery in international precious metal prices, according to HDFC Securities.