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    Gold rate slips below Rs 47,000 on profit-booking

    Synopsis

    SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings, rose 0.1 per cent to 1,129.28 tonnes on Tuesday.

    Reuters
    Globally, gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on sentiment.

    Commodity Summary

    MCX
    NEW DELHI: Gold and silver saw profit booking on Wednesday as equities continued to rise globally amid improving hopes of swifter recovery even as countries across the world continued to batter coronavirus pandemic.

    Total number of coronavirus patients in India reached nearly 2 lakh figure while fatalities climbed to 5,600. Nomura said a collapse in demand is coming as households and companies vie for cash.

    Gold futures were down 0.37 per cent or Rs 173 at Rs 46,385 per 10 grams. Silver futures dropped 0.77 per cent or Rs 380 to Rs 48,700 per kg.

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

    DateGold Spot Price
    Rs/10 grms (AHMEDABAD)
    Gold Future Price
    Rs/10 grms Expiry: 05-Aug-2020
    10-07-20204914348875
    10-07-20204914348875
    06-07-20204816848207
    03-07-20204822748050
    01-07-20204873048245
    26-06-20204811748315
    25-06-20204802147950
    23-06-20204794248257
    19-06-20204751947930
    18-06-20204730247368
    16-06-20204737447620
    12-06-20204733747364


    pot gold markets in the national capital were open on Tuesday, but rates for the precious metal were not immediately available, according to HDFC Securities.

    Globally, gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on sentiment.

    Spot gold was down 0.2 per cent at $1,722.93 per ounce, as of 1252 GMT. U.S. gold futures fell 0.3 per cent to $1,729.70.

    Traders hope that the European Central Bank will deliver additional stimulus, by around 500 billion euros, when it meets on Thursday. Central banks and governments around the world have unleashed huge quantities of stimulus to cushion their economies from the coronavirus pandemic.

    SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings, rose 0.1 per cent to 1,129.28 tonnes on Tuesday.

    Some sort of COVID-19 vaccine could be expected to be available to part of the U.S. population by the end of the year, a senior U.S. Army vaccine researcher said.

    Palladium rose 1.4 per cent to $1,976.30 per ounce, and platinum inched up 0.1 per cent to $839.52, while silver fell 0.6 per cent to $17.98.
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    1 Comment on this Story

    rakesh khan39 days ago
    Trust in quality is lost. Substandard gold is being rampantly sold by jewelers across the country. No one can bell the cat. Best option to avoid being cheated is don't buy gold anymore. NDA1. Demonization, and GST
    NDA2. Killed FD and MF
    NOW suck up people gold by offering Gond loans
    NDA3. Will ask people to earn money by selling their blood and body organs.
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