HomeBusinessYellow Metal Prices Slide Slightly

Yellow Metal Prices Slide Slightly

Gold Price Today: Yellow Metal Rates Down, Silver Also Slides

Gold Price Today: Yellow steel and silver costs had been buying and selling low within the home markets

Yellow steel costs had been barely down within the home market as on the MCX gold October futures had been buying and selling at Rs 47,392 per 10 grams, down by Rs 33 in opposition to the earlier shut of Rs 47,425.

Silver costs had been additionally down as December futures had been buying and selling at Rs 65,175 per kg, down by Rs 117 from the earlier shut of Rs 65,292 per kg.

In the worldwide market, gold costs stabilised on the hopes of the US Federal Reserve suspending its tapering in its bond purchases. Spot gold went up marginally and reached $826 per ounce whereas US gold futures eased to $1,828.

Gold imports in August reached its highest in 5 months resulting from excessive demand, whereas weaker costs spurred jewellers to extend purchases for the upcoming festive season. India imported 121 tonnes of yellow steel final month, in comparison with 63 tonnes in the course of the corresponding interval of final yr.

practically doubled to the best in 5 months on robust demand. The weaker costs prompted jewellers to ramp up purchases for the festive season. India imported 121 tonnes of gold in August, in comparison with 63 tonnes a yr earlier.

“COMEX gold trades near $1,829 per ounce, marginally lower from Friday’s close. Gold has eased a bit amid a pause in the US dollar’s slide and as market players moved to sidelines ahead of central bank meetings this week. Investor interest also remains weak in gold as is evident from ETF outflows. However, supporting price is geopolitical tensions, virus concerns and mixed economic data from major economies. Rise in Indian imports also show improved demand. Gold may remain choppy as market players assess central bank monetary policy however increasing challenges to the global economy may continue to support prices,” famous Ravindra Rao, head of commodity analysis at Kotak Securities.



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