Buy Gold Silver As Expected Fire: Gold and silver prices today edged higher in Indian markets, following the uptick in global rates. On MCX gold futures were up 0.4% to ₹49,049 per 10 gram while silver rose 0.7% to ₹72622 per kg.
MCX GOLD 48802 TO 49137
MCX SILVER 72100 TO 72681
Gold prices and silver prices dropped in Indian markets amid a strong rally in equity markets. On MCX, gold futures edged 0.15% lower to ₹49,879 per 10 gram, after rising to ₹50,175 earlier in the session. Silver futures fell 0.6% to ₹65,057 per kg. In the previous session, gold futures had jumped 1.5% or ₹750 per 10 gram while silver had surged 2.5% or ₹1,600 per kg.
Gold prices in India today edged lower in early trade in futures market amid muted global rates. On MCX, August gold futures slipped 0.03% to ₹48,210 per 10 gram.
Gold prices in India kiss life-time high on Wednesday, tracking a global rally, as surging coronavirus cases in many countries raised the metal’s safe-haven appeal.
The Union commerce ministry has sought a reduction in the import duty on gold in the coming Union Budget, with a view to pushing manufacturing and export of the gems and jewellery sector, a source said.
MCX Gold Future Prices has also benefitted from disappointing US economic data which strengthens the case that Fed may keep interest rate low,” Kotak Securities said in a note.
Gold imports rose 12.6 per cent in June from a year earlier to $2.69 billion amid a jump in global prices to six-year highs, a government source said on Tuesday.
Gold Silver Reports (GSR) – Gold prices were ranging between $1410.36 and $1421.67 on Thursday throughout the European and lack of a US session. The yellow metals moved over to the early Asian closing session at 41415, -0.28% on the day. This followed Wednesday’s futures settlement of $1,420.90 which was the highest finish for a most-active contract since May 2013.
Gold Silver Reports (GSR) – Physical Gold prices on Monday gained by Rs. 30 to Rs. 33,000 per 10 grams on the back of demand from jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association.