Gold rate: Yellow metal trades near Rs 45,500; silver costlier by Rs 400
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The dollar slumped to an almost two-week low versus a basket of rival currencies, while US Treasury yields also fell as investors paused recent selling of government bonds. Weaker Treasury yields translate into a lower opportunity cost for holding bullion, which pays no return.
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Spot gold was up 0.3 per cent at $1,733.31 per ounce, as of 0117 GMT. Gold futures were up 0.4 per cent at $1,735.10 per ounce.
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NEW DELHI: Gold futures were trading with gains on Tuesday as a weaker dollar made bullion cheaper and more attractive for buyers outside the United States, while a pull-back in US Treasury yields provided further support.
Gold price on Tuesday rose to Rs 48,450 for 10 gm from Rs 47,180 and silver price trending at Rs 65,000 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 44,410 per 10 gm, while in Chennai it fell to Rs 42,580. The rate in Mumbai was Rs 44,200 according to the website. The price of 24-carat gold in Chennai was Rs 46,460 per 10 gm. Gold was marginally lower by Rs 15 to Rs 44,949 per 10 gram in the national capital on Monday amid muted trading and tepid global trends, according to HDFC Securities.
Gold price on Thursday fell to Rs 47,180 from Rs 47,450, while silver price was trending at Rs 63,200 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 43,250 per 10 gm, while in Chennai it fell to Rs 41,740. In Mumbai, the rate was Rs 43,370 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 45,540 per 10 gm. Gold gained Rs 44 to Rs 44,347 per 10 gram in the national capital on Thursday, supported by weaker rupee and overnight gain in global precious metal prices, according to HDFC Securities. It had closed at Rs 44,303 per 10 gram in the previous trade. Silver, however, dipped Rs 637 to Rs 64,110 per kg, from Rs 64,747 per kg in the previous trade.
Gold price on Wednesday fell to Rs 48,160 from Rs 48,170, while silver price was 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 44,150 per 10 gm, while in Chennai it fell to Rs 42,270. In Mumbai, the rate was Rs 43,840 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 46,110 per 10 gm. Gold edged lower on Tuesday, pressured by an uptick in the dollar, as investors awaited policy cues from a two-day US Federal Reserve meeting.