Yellow metallic costs have been down on Thursday on the MCX as gold October futures have been buying and selling at Rs 47,054 per 10 grams, down by Rs 14 towards the earlier shut of Rs 47,068. Silver December futures too have been down and traded at Rs 63,768 per kg, down by Rs 72 from the earlier session’s fee of Rs 63,840 per kg.
In the worldwide market, gold costs have been steady as buyers await the US jobs information which can have an effect on the US Federal Reserve’s charges tapering plan. Spot gold was regular at $1,814.54 per ounce, whereas US gold futures have been at $1,817.20.
Some commodity watchers additionally really feel that if the US jobs information will not be on anticipated traces, then gold costs may transcend the $1,800 mark.
Commenting on gold value tendencies, head of commodity analysis at Kotak Securities, Ravindra Rao stated, “COMEX gold trades little changed near $1,815 per ounce after a 0.1 per cent decline yesterday. Gold is range bound amid continuing debate over Fed’s monetary policy. Also support from virus concerns, mixed economic data from major economies and tensions in Afghanistan is countered by continuing ETF outflows and general positive trend in equities. Gold may remain volatile amid Fed uncertainty but global growth and inflation concerns may continue to support.”