Gold price on Thursday rose to Rs 50,120 for 10 gm from Rs 49,870 and silver price is trending at Rs 67,600 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 45,950 per 10 gm, while in Chennai it fell to Rs 43,740. The rate in Mumbai was Rs 44,850 according to the website. The price of 24-carat gold in Chennai was Rs 47,700 per 10 gm. Gold dipped Rs 130 to Rs 46,093 per 10 gram in the national capital on Tuesday following a decline in international precious metal prices, according to HDFC Securities.
Synopsis
Gold futures on MCX were up 0.35 per cent or Rs 162 at Rs 46,770 per 10 grams. Silver futures added 0.20 per cent or Rs 137 to Rs 67,775 per kg.
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Spot gold rose 0.2 per cent to $1,738.96 per ounce by 0121 GMT. US gold futures were up 0.1 per cent to $1,737.90 per ounce.
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NEW DELHI: Gold and silver futures were trading higher on Thursday as a weaker dollar boosted the safe-haven metal s appeal, while investors awaited the release of weekly jobless claims and March retail sales data in the United States later in the day.
The dollar held near a three-week low against a basket of currencies on Thursday, as US bond yields levelled off following a surge last month. A weaker dollar makes gold cheaper for buyers outside the United States.
Gold price on Wednesday rose to Rs 49,870 for 10 gm from Rs 48,860 and silver price is trending at Rs 66,300 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 45,710 per 10 gm, while in Chennai it fell to Rs 43,750. The rate in Mumbai was Rs 44,760 according to the website. The price of 24-carat gold in Chennai was Rs 47,700 per 10 gm. Gold dipped Rs 130 to Rs 46,093 per 10 gram in the national capital on Tuesday following a decline in international precious metal prices, according to HDFC Securities.
NEW DELHI: Gold futures were trading higher on Tuesday amid sharp rise in Covid-19 cases but a firmed up US Treasury yields capped the gains, with optimism about a quick economic rebound weighing on prices further.
Treasury yields in the United States have stayed marginally higher after a successful three-year note auction and ahead of important data releases this week, including consumer price inflation on Tuesday. Higher bond yields increase the opportunity cost of holding bullion, which pays no return.
Gold futures on MCX were up 0.11 per cent or Rs 50 at Rs 46,469 per 10 grams. Silver futures added 0.21 per cent or Rs 137 to Rs 66,265 per kg.
Gold price on Monday was slightly higher at Rs 45,710 per 10 gm compared to Rs 45,700 in the previous session. Silver is trending at Rs 66,900 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 45,660 per 10 gm, while in Chennai it rose to Rs 43,750. The rate in Mumbai was Rs 44,710 according to the website. The price of 24-carat gold in Chennai was Rs 47,730 per 10 gm. “Gold is currently in a consolidation phase, which is encouraging bargain hunters and long-term investors to step in and take advantage of low prices as gold may soon reverse direction decisively and recover”, said Chirag Mehta - Senior Fund Manager - Alternative Investments, Quantum AMC.