Gold prices surge close to Rs 50,000 per 10 gram on weak dollar, silver climbs Rs 696 a kg
The gold/silver ratio, which refers to the amount of silver required to buy one ounce of gold, was at 75.21 to 1
Mumbai / December 24, 2020 / 06:40 PM IST
Gold prices rose Rs 144 to Rs 49,995 per 10 gram in the Mumbai retail market on a softer dollar and positive global cues. The precious metal gained on optimism surrounding the US stimulus but the upside was capped by strength in the rupee.
The rate of 10 gram 22-carat gold in Mumbai was Rs 45,795 plus 3 percent GST, while 24-carat 10 gram was Rs 49,995 plus GST. The 18-carat gold quoted at Rs 37,496 plus GST in the retail market.
Gold prices edge higher for fifth day to Rs 50,308 per 10 gm; silver jumps Rs 673 a kg
Silver prices climbed by Rs 673 to Rs 67,192 per kg from its closing on December 18.
Mumbai / December 21, 2020 / 06:27 PM IST
Gold prices continued their northward march for the fifth straight day by Rs 200 to Rs 50,308 per 10 gram in the Mumbai retail market on rupee depreciation and volatile global cues. The precious metal price pared earlier gains tracking rebounding dollar on safe-haven appeal as a new coronavirus strain in Britain led to sell-off in most assets class.
The rate of 10 gram 22-carat gold in Mumbai was Rs 46,082 plus 3 percent GST, while 24-carat 10 gram was Rs 50,308 plus GST. The 18-carat gold quoted at Rs 37,731 plus GST in the retail market.
Gold prices jump nearly 2% this week to Rs 50,305/10 gm, bias bullish for short term
At MCX, Gold February prices have near term resistance at Rs 50,800 per 10 grams and support at Rs 49,500 per 10 gram”, said Patel.
gold
Gold prices edged lower to settle at Rs 50,305 per 10 gram on December 19 as participants trimmed their long position as seen by the open interest. The precious metal ended the week with a gain of Rs 980 or 1.99 percent for the week.
The yellow metal traded in the positive territory for three out of five sessions during the week, closing above the key psychological barrier of Rs 50,000/10 grams for two successive days tracking the general weakness in dollar and expectation of further US stimulus.
Gold price rises for fourth day in a row to Rs 50,108 per 10 gram; silver up by Rs 50 a kg
The broader trend on COMEX could be in the range of $1,860- 1,895 and on the domestic front prices could hover in the range of Rs 49,800- 50,550.
Mumbai / December 18, 2020 / 06:56 PM IST
Gold prices jumped for the fourth straight day by Rs 101 to Rs 50,108 per 10 gram in the Mumbai retail market on subdued global cues and a flat rupee. The precious metal price was supported by the weakness in dollar and expectation of a stimulus package for the US economy.
The bullion metal ended the week with a gain of Rs 1,062 or 2.17 percent for the week.
Gold prices zoom above Rs 50,000/10 gm on weak dollar; silver rises by Rs 926 a kg
Silver prices climb by Rs 926 to Rs 66,469 per kg from its closing on December 16.
gold
Gold prices crossed Rs 50,000 per 10 gram for the first time since November 23 in the Mumbai retail market on weakness in the US dollar. The precious metal traded higher on the prospects for more stimulus measures after the US Federal Reserve kept the rate near zero until the economic recovery is complete.
The rate of 10 gram 22-carat gold in Mumbai was Rs 45,806 plus 3 percent GST, while 24-carat 10 gram was Rs 50,007 plus GST. The 18-carat gold quoted at Rs 37,505 plus GST in the retail market.