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    Gold Rate Today: Gold declines on uptick in equities

    Synopsis

    Globally, spot gold prices fell by 0.5 per cent.

    ETMarkets.com
    NEW DELHI: Gold prices fell in futures trade on Monday as the demand for the safe-haven metal waned on rise in equities and strenghtening rupee.

    Globally, gold prices edged up as expectations of monetary policy easing by major central banks gathered momentum amid soft economic data, Reuters reported.

    Spot gold was up at $1,509.45 per ounce. Spot gold is expected to test support at $1,497 per ounce, a break below which could cause a further fall to $1,453, according to a report by Reuters.

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

    DateGold Spot Price
    Rs/10 grms (AHMEDABAD)
    Gold Future Price
    Rs/10 grms Expiry: 05-Oct-2020
    18-09-20205161951720
    16-09-2020051842
    11-09-2020051333
    08-09-20205096750967
    04-09-20205094050740
    02-09-20205108850794
    28-08-20205098151399
    25-08-20205144051004
    21-08-20205244851990
    19-08-20205318552660


    The domestic market also witnessed a fall in gold prices due to the renewal of trade talks between US-China. Silver rates also fell sharply after hitting a life-time high of Rs 51,489 on Thursday.

    Around 11:30 am, MCX Gold traded at Rs 38,497 per 10 gram. Silver prices remained steady at Rs 47,585 per kg today.

    “The Fed Chairman’s optimistic outlook on US growth pulled gold and silver prices down. Gold settled negative in the international markets for a second week in a row after hitting a six-year high last week. Silver prices also crashed from a two-year high,” IndiaNivesh Research said in a note.
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    The Economic Times