12,080.85-45.05
Stock Analysis, IPO, Mutual Funds, Bonds & More

Gold rate today: Bullion dips amid firm rupee, China virus concerns

Bullion counters may trade sideways, said brokerage SMC Global.

ETMarkets.com|
Last Updated: Jan 28, 2020, 10.03 AM IST
0Comments
Getty Images
gold
Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.13 per cent to 899.41 tonnes on Monday.

Commodity Summary
MCX

GOLD
SILVER
Gold and silver futures were trading with cuts in Tuesday's trade on domestic bourses amid stronger rupee and rising concerns over the fast-spreading coronavirus in China.

The epidemic has taken 106 lives and has spread to more than 10 countries, including France, Japan and the United States. No deaths have been reported outside of China so far.

MCX Gold futures were down 0.12 per cent to Rs 40,537, while silver futures slipped 0.26 per cent to Rs 46,885.

Bullion counters may trade sideways, said brokerage SMC Global. “Gold can move higher towards Rs 40,800 while taking support near Rs 40,450, while silver can test Rs 47,300 while taking support near Rs 46,700,” it added.

Globally, gold prices were little changed as rising concerns over the fast-spreading coronavirus in China and its economic impact offset a firmer dollar.

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

DateGold Spot Price
Rs/10 grms (AHMEDABAD)
Gold Future Price
Rs/10 grms Expiry: 03-Apr-2020
21-02-202041590.042700.0
20-02-202041590.042062.0
14-02-202040676.041002.0
12-02-202040467.040495.0
07-02-202040556.040657.0
05-02-202040059.040204.0
03-02-202040703.040771.0


Spot gold was unchanged at $1,581.09 per ounce by 0140 GMT. On Monday, prices rose to their highest since Jan. 8 at $1,586.42. US gold futures rose 0.2 per cent to $1,580.90.

Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.13 per cent to 899.41 tonnes on Monday.

Palladium advanced 0.6 per cent to $2,282.29 an ounce, having declined to its lowest at $2,258.92 in the previous session. Silver was flat at $18.09, while platinum rose 0.5 per cent to $988.31.

Meanshile, Barrick Gold will start to ship gold worth up to $280 million from Tanzania, Chief Executive Officer Mark Bristow said on Monday, after the government lifted an export ban following the resolution of a three-year tax dispute.

Also Read

Gold Rate Today: Gold, silver upbeat as coronavirus death toll rises

Will gold continue to shine in 2020?

Gold rate today: Gold edges higher as IMF trims growth outlook

Gold Rate Today: Gold, silver slip further on profit booking

Gold Rate Today: Gold prices gain amid weakness in US dollar

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service