Gold Price in India: Domestic gold futures trading witnessed volatile trading on Wednesday as the rupee fell amid the rupee depreciation in the precious metal. Gold futures trading of Multi Commodity Exchange (MCX) was last traded at Rs 49,350, up 0.62 per cent due to delivery on February 5, from Rs 49,130 to Rs 49,447 for the previous session of Rs 49.445. Sold out in comparison. Silver futures were down 0.17 per cent at Rs 65,792 for delivery on March 5. (Also read: Is Silver the New Gold?)
According to HDFC Securities, gold in the national capital fell by Rs 108 to Rs 48,877 per 10 grams. In the previous trade, the price of silver had increased by Rs 144 to Rs 65,351 per kg.
– IBJA (@ IBJA1919) 13 January 2021
According to Mumbai-based industry body India Bullion and Jewelers Association (IBJA), domestic spot gold closed at Rs 49,479 per 10 grams and silver at Rs 65,445 per kg – both rates except GST – on Wednesday. In the international market, gold was trading at a profit of $ 1,857 an ounce, while silver was at $ 25.48 an ounce.
“COMEX gold is down 0.9 percent to close at $ 1961 / oz after down 0.4 percent yesterday. Gold trades backed by a return to the US dollar index after recent gains are higher. Also supporting price higher against US President Trump US stimulus, rising virus cases and impeachment proceedings are expected. However, weighing on the price is the lack of ETFs and the advancement of vaccination. Ravindra Rao, VP-Head, Commodity Research, Kotak Securities, said that lack of fresh triggers in gold The decrease may remain, but general biases may be due to rising expectations.
Meanwhile, the rupee rose for the second straight day and climbed 10 paise against the US dollar on 13 January at 73.15 (provisional) supported by steady foreign exchange flows. Brent crude futures, the global oil benchmark, rose 0.18 percent to $ 56.68 a barrel.