The Economic Times
English EditionEnglish Editionहिन्दीગુજરાતી
| E-Paper
Search
+

    Gold rate slips below Rs 48,000-mark on profit booking

    Synopsis

    Globally, gold prices edged higher as worries over a surge in coronavirus infections in the US dented optimism about signs of a nascent economic recovery, prompting investors to seek the safe-haven metal.

    Gold has also been benefiting from lower interest rates around the world and widespread stimulus measure from major central banks as it is widely viewed as a hedge against inflation and currency debasement.

    Commodity Summary

    MCX
    NEW DELHI: Gold and silver saw profit booking in the morning session on Monday as equities across the world continued their climb on hopes of swift economic recovery.

    Asian shares held near four-month highs as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery even as surging Covid-19 cases remained a worry.

    Gold futures were down 0.36 per cent or Rs 174 at Rs 47,872 per 10 grams. Silver futures dipped 0.35 per cent or Rs 172 to Rs 49,005 per kg.

    Gold Rates - Spot & Futures (.995 purity) (MCX)

    DateGold Spot Price
    Rs/10 grms (AHMEDABAD)
    Gold Future Price
    Rs/10 grms Expiry: 05-Oct-2020
    14-08-20205268852180
    11-08-20205375851787
    07-08-20205592254866
    03-08-20205361553735
    31-07-20205361553431
    27-07-20205226052316
    24-07-20205096051295
    21-07-20204926449682
    20-07-20204911849144
    17-07-20204894249115
    16-07-20204907748931


    Gold prices in the national capital jumped Rs 237 to Rs 49,022 per 10 gram on Friday, according to HDFC Securities. However, silver declined by Rs 740 to Rs 49,060 per kg.

    Globally, gold prices edged higher as worries over a surge in Covid-19 infections in the United States dented optimism about signs of a nascent economic recovery, prompting investors to seek the safe-haven metal.

    Spot gold was up 0.1 per cent to $1,775.97 per ounce by 0031 GMT. U.S. gold futures eased 0.2 per cent to $1,787.30.

    Gold has also been benefiting from lower interest rates around the world and widespread stimulus measure from major central banks as it is widely viewed as a hedge against inflation and currency debasement.

    Palladium fell 0.3 per cent to $1,916.98 per ounce, while platinum rose 0.8 per cent to $806.30. Silver eased 0.1 per cent to $18.02.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

    Also Read

    The Economic Times