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The price of gold has been on a steady rise following the US Federal Reserve's announcement of a 25 basis point rate hike on Wednesday.
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On Tuesday, gold enthusiasts were taken aback when the price of 24 karat gold hit the staggering mark of Rs 60,000, while its 22 karat counterpart was being sold at Rs 55,000
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On Thursday, the price of 24 karat gold per 10 grams surpassed the Rs 58,000 mark for the second time within the past year, ultimately settling at an impressive Rs 58,420.
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On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 199 or 0.38 per cent at Rs 52,650 per 10 gram in a business turnover of 4,012 lots.
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New Delhi: Commodity experts say the sharp rise in crude prices, which rose about 12 per cent in the past week, is mainly responsible for the rally in gold rates. But there are other factors at play as well. Rising global inflation and the volatile stock market have made the yellow metal a “safe” investment […]
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New Delhi: Strong likelihood of a sharp rise in interest rates by the US Fed and other central banks to rein in the red-hot inflation has melted international gold prices to a nearly one-year low. In India too, the prices of the yellow metal in physical markets fell to a multi-month low and breached the […]
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New Delhi: Gold prices on Tuesday fell by Rs 56 to Rs 50,814 per 10 grams in futures trade as speculators reduced their positions amid low demand. On the Multi Commodity Exchange, gold contracts for August delivery traded lower by Rs 56 or 0.11 per cent at Rs 50,814 per 10 grams in a business […]
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In 2021, prices of the precious metal have been trading between Rs 47,000 and 49,000 mark per 10 grams.
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In the previous trade, the precious metal had closed at Rs 46,127 per 10 gram.
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Speaking on the occasion, Akhilesh Agarwal, founder and CEO, Dru Gold said, “We at Dru Gold understand how to unlock the value from jewellery and ornaments of gold and deploy cash to empower our customers to prosper in many ways.”
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On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 284, or 0.58 per cent, at Rs 49,223 per 10 gram in a business turnover of 11,601 lots.
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In the international market, gold declined to USD 1,835 per ounce and silver was flat at USD 23.84 per ounce.
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On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 57, or 0.12 per cent, at Rs 47,975 per 10 gram in a business turnover of 13,251 lots.
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The yellow metal had closed at Rs 50,610 per 10 gram in the previous trade.
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HDFC Securities Senior Analyst (Commodities) Tapan Patel said gold prices traded higher on expectations of more stimulus packages
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The rupee depreciated 16 paise and settled at 73.87 against the US dollar on Wednesday as heavy selling in the domestic equity market.
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In the international market, gold was trading higher at USD 1,908 per pounce, while silver was quoting flat at USD 24.72 per pounce.
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Silver prices also declined Rs 504 to Rs 63,425 per kilogram from Rs 63,929 per kilogram in the previous trade.
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Silver, however, rose Rs 126 to Rs 63,427 per kg, from Rs 63,301 per kg in the previous trade
