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.
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%.
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)
|Date||Gold Spot Price |
Rs/10 grms (AHMEDABAD)
|Gold Future Price |
Rs/10 grms Expiry: 04-Oct-2019
- 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.