gold price today: Gold prices today fall below Rs 46,000; silver cheaper by Rs 900 – The Economic Times

Agencies
Gold futures on MCX were down 0.35 per cent or Rs 161 at Rs 45,965 per 10 grams. Silver futures fell 1.34 per cent or Rs 918 to Rs 67,576 per kg.

NEW DELHI: Gold and silver futures prices declined on Friday following the trend in the international market, thanks to a rise in the bond yields. Improving economic conditions also added to the pressure.

Benchmark US Treasury yields edged higher, having hit a near one-year peak earlier this week. Higher yields increase the opportunity cost of holding bullion, which pays no interest. The dollar was also set to mark a weekly gain, making gold expensive for holders of other currencies.

Gold futures on MCX were down 0.35 per cent or Rs 161 at Rs 45,965 per 10 grams. Silver futures fell 1.34 per cent or Rs 918 to Rs 67,576 per kg.

“Weighing on gold price is higher bond yields and continuing ETF outflows which show weaker investor interest. However, supporting price is the loose monetary policy stance of major central banks, mixed economic data and hopes of additional US stimulus. Gold’s sharp sell-off makes it vulnerable to further losses however the losses seems overstretched given the emphasis on continuing with stimulus measures,” said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.

In the spot market, gold prices in the national capital declined by Rs 320 to Rs 45,867 per 10 grams on Thursday. Silver, however, gained marginally by Rs 28 to Rs 68,283 per kg.

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

Date Gold Spot Price
Rs/10 grms (AHMEDABAD)
Gold Future Price
Rs/10 grms Expiry: 05-Apr-2021
19-02-2021 46263 45901
12-02-2021 47193 47525
05-02-2021 0 47260
29-01-2021 0 49320
27-01-2021 0 49110
22-01-2021 0 49290
18-01-2021 0 48950

Trading strategies

“Gold prices traded under pressure on a stronger dollar and rise in bond yields which has dampened demand for gold. We expect gold prices to trade sideways to down for the day. MCX Gold April futures support lies at Rs 45,700 per 10 gram with resistance at Rs 46,300 per 10 gram,” said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

Global markets

Gold prices fell to their lowest in more than seven months on Friday, on course for their worst week since the end of November, as rising US Treasury yields eroded the non-yielding bullion’s appeal.

Spot gold fell 0.4 per cent to $1,769.03 per ounce by 0250 GMT, having touched its lowest since July 2 at $1,759.29 earlier in the session. Prices have declined 3 per cent so far this week. US gold futures slipped 0.6 per cent to $1,765.30.

Silver eased 1.1 per cent to $26.71 an ounce, after falling over 2.5 per cent so far this week, its worst since mid-January. Platinum slipped 2.4 per cent to $1,244.19, while palladium shed 0.7 per cent to $2,334.58.

This content was originally published here.

Rate:

0 out of 5 stars(0 ratings)

Subscribe to Our Newsletter

money for gold logo

Learn About Buying and Selling Gold for the Best Prices

Get the latest news and expert advice on Gold!

We don’t spam! Read our privacy policy for more info.

Leave a Reply

Related

Gold declines Rs 679, silver crashes Rs 1,847 Gold prices declined by Rs 679 to Rs 44,760 per 10…

Read more

According to the source, the country purchased a record 321 tons of gold in the first quarter, up from 124 tons a year…

Read more

Gold declines Rs 291; silver tanks Rs 1,096 Gold prices fell by Rs 291 to Rs 44,059 per 10 gram…

Read more

Share Great Content for Our Resource Section

About

MoneyForGold.com is a resource site created for those looking to sell their personal collection of gold - whether it’s jewelry, coins, bars, antiques, etc., anything made from gold can be sold for quick cash. We encourage visitors to signup and share quality “Money For Gold” resources.

Have a question or comment? Email us at: contact@moneyforgold.com

Navigation
MoneyForGold.com
50% Complete

Learn Where to Sell Your Gold for the Best Prices

Free 3-Minute, Practical Stories Delivered to You Everyday!
Buy, Sell, Invest in Gold Today!