Synopsis
Globally, gold edged higher on Thursday, heading for its best year in a decade, as a weaker US dollar outweighed pressure from a top Republican lawmaker s remark that a bill to increase US pandemic aid checks was unlikely to get Senate approval soon.
Agencies
Gold futures on MCX were down 0.01 per cent or Rs 7 at Rs 50,128 per 10 grams. Silver futures fell 0.11 per cent or Rs 74 to Rs 68,540 per kg.
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NEW DELHI: Gold and silver futures prices in the domestic market traded flat with a negative bias on Thursday as the US Senate leader poured water on hopes of an extended pandemic relief checks.
Gold prices surge over 20% for second year in a row to settle above Rs 50,000 per 10 gram
Gold prices have kept range bound trading during the week on lack of important economic data and mixed global cues.
Mumbai / December 31, 2020 / 07:03 PM IST
Gold prices soared by Rs 231 to Rs 50,202 per 10 gram in the Mumbai retail market on a softer dollar and positive global cues. The precious metal surged 27.94 percent in the domestic market this year - the best in a decade - after gaining 23.75 percent last year.
The yellow metal price was Rs 39,240/10 gm on December 31, 2019, and Rs 31,710 on the last day of 2018.
Gold set for strongest year since 2010
Updated / Thursday, 31 Dec 2020
16:34
The price of spot gold is up more than 24% this year - its best performance since 2010
Gold prices, though little changed in holiday-thinned trade today, are on course for their best annual performance in a decade.
Spot gold, up more than 24% this year in its best performance since 2010, was almost flat at $1,893.10 per ounce this afternoon.
US gold futures were up 0.2% to $1,897.40. With reduced market participants activity on the last day of the year, I expect gold to move in a narrow range. Some modest support is coming from a slightly weaker US dollar and modestly lower US real rates, said UBS analyst Giovanni Staunovo.
ANNA LIZ NICHOLS
LANSING Gov. Gretchen Whitmer signed into law a $106 million plan Tuesday that will provide relief to businesses and fund efforts to fight the economic impact of the coronavirus.
Though the plan was a collaborative effort between the governor and the legislature, Whitmer told reporters that the legislature strayed from the original agreement and that the $465 million plan the legislature sent to her desk had been cut.
Unemployment benefits will be extended from 20 weeks to 26 weeks through the end of March. But Whitmer used a line-item veto to get rid of a $220 million allocation that would have helped businesses fund unemployment benefits.
Dec 30, 2020
LANSING (AP) Gov. Gretchen Whitmer signed into law a $106 million plan Tuesday that will provide relief to businesses and fund efforts to fight the economic impact of the coronavirus.
Though the plan was a collaborative effort between the governor and the legislature, Whitmer told reporters that the legislature strayed from the original agreement and that the $465 million plan the legislature sent to her desk had been cut.
Unemployment benefits will be extended from 20 weeks to 26 weeks through the end of March. But Whitmer used a line-item veto to get rid of a $220 million allocation that would have helped businesses fund unemployment benefits.