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Gold Rate Today: Gold slumps as safe-haven demand recedes

Globally, gold prices softened due to a boost in riskier assets on stimulus hopes and rise in US dollar.

ETMarkets.com|
Aug 20, 2019, 01.26 PM IST
0Comments
NEW DELHI: Gold prices declined in futures trade on Tuesday following an uptick in investors' risk appetite. The rise in hopes for additional stimulus and clues on ease in monetary policies by major central banks globally also weighed on gold.

GLOBAL GOLD:
Globally, gold prices softened due to a boost in riskier assets on stimulus hopes and rise in US dollar. On Monday, gold dipped 1.2 per cent below the $1,500 level, the biggest decline since 19th July 2019.

US President Trump on Monday raised demands on the Federal Reserve to cut interest rates by at least 1%.

DOMESTIC GOLD:
Gold rates in domestic market slumped by Rs 100 to Rs 38,570 per 10 gms. The yellow metal fell on tepid demand at spot market and weak global trends. The demand for safe-haven assets also declined due to heavy rains causing floods in states like Kerala and Karnataka.

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

DateGold Spot Price
Rs/10 grms (AHMEDABAD)
Gold Future Price
Rs/10 grms Expiry: 04-Oct-2019
20-09-201937390.037734.0
17-09-201937855.037985.0
13-09-201937592.037515.0
11-09-201937902.037955.0
10-09-20190.038264.0
06-09-201938185.038566.0
04-09-201939011.039836.0
02-09-20190.039103.0
30-08-201938405.038655.0
28-08-201938795.039186.0


GOLD RATES:
  • SPDR Gold Holdings said its holdings fell 1.17 per cent on Monday.
  • Spot gold was stable 0.3 per cent at at $1,495.21 per ounce at 0438 GMT.
  • Around 11.30 am, MCX Gold traded at Rs 37,774 per 10 gm.
  • However, silver rates jumped marginally by 0.01 per cent to Rs 43,435 per kg today.

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