Gold rates today remain stable in India Rs 43,370 per 10 gm for 22 carats. While Silver prices are trading at Rs 65, per kg. In Delhi, the gold price of 22-carat Rs 43,250 and for 24 carats Rs 48,440, in Chennai gold rate 22 Carat is Rs 42,670 and 24 Carat is 46,550.
Domestic spot gold closed at Rs 44,680 per 10 grams on Wednesday, and silver at Rs 66,370 per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). Gold prices traded marginally down at COMEX (New York-based commodities exchange). The rally in equity indices and firm dollar may limit upside in precious metals for the day, said Tapan Patel, Senior Analyst, HDFC Securities.
In the international market, gold was trading marginally lower at $ 1,711 per ounce and silver was flat at $ 25.78 per ounce.
Promoted Gold rallied sharply yesterday on correction in US bond yields and US dollar. Gold however eased today as US dollar recouped some losses. While gold sways along with the US dollar, support from US stimulus and Chinese equity market sell-off is countered by weaker investor interest. Gold may continue to sway along with US dollar however a sharp rise is unlikely unless bond yields correct sharply,
Gold Price Today: After hitting its lifetime high of Rs 56,191 per 10 gm at MCX during the COVID-19 pandemic, gold price has slide to the tune of around Rs 12,500 per 10 gm till date. As per the Zee Business exclusive report, gold price at MCX may further feel the heat of higher US treasury yield and COVID-19 vaccine success in various countries. During a discussion aon Zee Business TV over the falling gold price, panel members said that for people, sell on rise is the ideal strategy as yellow metal price is expected to continue to fall for next two to three months.
Domestic spot gold closed at Rs 44,516 per 10 grams on Friday, and silver at Rs 65,128 per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).
In the international market, gold was trading lower at $1,696 per ounce and silver was down at $ 25.20 an ounce. Meanwhile, the rupee declined by 19 paise to close at 73.02 against the dollar due to stronger American currency and risk aversion in global markets. Brent crude futures, the global oil benchmark, gained 2.59 per cent to $ 68.47 per barrel.
What Analysts Say Spot prices for 24 karat gold at Delhi fell by Rs 522 in COMEX (New York-based commodities exchange) gold prices, said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.
Gold Rates Today: Domestic spot gold closed at Rs 45,217 per 10 grams today
Gold Price in India: Domestic gold futures registered a negative session on Wednesday, March 3. Spot gold prices dropped by Rs 208 to Rs 44,768 per 10 grams in the national capital, tracking weak global bullion market trend, according to HDFC Securities. Silver rates also declined by Rs 602 to Rs 68,194 per kg, compared with the previous close of Rs 67,592 per kg. Multi Commodity Exchange (MCX) gold futures, due for an April 5 delivery, was last seen trading 1.16 per cent lower at Rs 44,813, having swung between Rs 44,670 and Rs 45,544 during the session compared to their previous close of Rs 45,548. Silver futures were trading lower by 1.32 per cent at Rs 66,450. (Also Read: Is Silver The New Gold?)