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Gold rate today: Bullion counters trade near flatline as traders maintain caution

Globally, gold prices held steady above the key $1,600 mark on Wednesday.

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Last Updated: Feb 19, 2020, 09.55 AM IST
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Gold futures were down 0.11 per cent to Rs 41,374 per 10 grams, while silver futures were up 0.16 per cent to Rs 47,340 per kg.

Commodity Summary
MCX

GOLD
SILVER
Gold and silver traded near the flatline on Wednesday as the number of new coronavirus cases came down, but risks of a wider impact on the economy remained.

The National Health Commission reported 1,749 new confirmed cases. The latest figures bring the total number of cases in China to over 74,000 and the total death toll to 2,004. However, many investors view Chinese data on the virus with a great deal of scepticism.

Gold futures were down 0.11 per cent to Rs 41,374 per 10 grams, while silver futures were up 0.16 per cent to Rs 47,340 per kg.

Globally, gold prices held steady above the key $1,600 mark on Wednesday as an uptick in equities was kept in check by fears about the economic fallout of the epidemic.

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

DateGold Spot Price
Rs/10 grms (AHMEDABAD)
Gold Future Price
Rs/10 grms Expiry: 03-Apr-2020
01-04-202040989.043500.0
31-03-202040989.043250.0
27-03-202040989.043387.0
24-03-202040989.041348.0
20-03-202041125.040784.0
17-03-202039741.040434.0
13-03-202041859.040464.0
11-03-202043427.043378.0


Autocatalyst metal palladium, meanwhile, scaled yet another record peak on a sustained supply shortfall. Palladium jumped 1.6 per cent to $2,677.09 an ounce, having scaled a record high of $2,683.50 earlier in the session. Plagued by sustained supply deficit, palladium, used mainly in catalytic converters in vehicles, rose about 54 per cent in 2019.

Spot gold was little changed at $1,601.77 per ounce by 0244 GMT. In the previous session, bullion prices surged 1.3 per cent to their highest since January 8 at $1,605.10. US gold futures were up 0.1 per cent to $1,604.80.

Silver was up 0.4 per cent to $18.24, having earlier touched a three-week peak at $18.26. Platinum also hit its highest in three weeks earlier in the session, at $1,001.67, and was up 0.8 per cent to $1,000.02 as of 0244 GMT.

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