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Gold Rates Today: Domestic spot gold closed at Rs 47,452 per 10 grams on Thursday
Gold Price in India:┬аAmid falling prices of the yellow metal, domestic gold futures witnessed a volatile┬аtrading session on Thursday, February 4. In the national capital, gold rates slipped by┬аRs 322┬аto Rs 47,135┬аper 10 gm amid a decline in global precious metal prices and appreciation of the rupee, according to HDFC Securities. Silver prices also declined by┬аRs 1,972┬аto Rs 67,170┬аper kg, as compared to the previous close of Rs 68,142. Multi Commodity Exchange (MCX) gold futures, due for delivery tomorrow, i.e., February 5, was last seen trading 0.84 per cent lower at Rs 47,350, having swung between Rs 47,157┬аand Rs 47,400┬аduring the session compared to their previous close of Rs 47,750. Silver futures were trading lower┬аby 1.14┬аper cent at Rs┬а67,785. (Also Read:┬аIs Silver The New Gold?)┬а
#Gold and #Silver Closing #Rates for 04/02/2021#IBJApic.twitter.com/JoKy3vboTn
тАФ IBJA (@IBJA1919) February 4, 2021
Domestic spot gold closed at Rs 47,452┬аper 10 grams on Thursday, and silver at Rs 67,015┬аper kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).┬аIn the international market,┬аgold┬аwas trading lower at $┬а1,825 per ounce and silver was flat at $┬а26.61 per ounce.
“Spot gold prices for 24 karat in Delhi were down by Rs 322 reporting fourth consecutive fall with decline in global gold prices and rupee appreciation,” said HDFC Securities Senior Analyst (Commodities) Tapan Patel.
тАЬCOMEX gold trades 0.5 per cent┬аlower near $1825/oz after a 0.1 per cent┬аgain yesterday. Weighing on gold price is the rise in US10-year bond yield to 3-week high amid increased optimism about the US economy amid some upbeat economic data and increased efforts to approve a stimulus package,” said┬аRavindra Rao, VP- Head Commodity Research at Kotak Securities.
”However, supporting price is global growth worries amid persisting virus risks and loose monetary policy stance of major central banks and hopes of additional US stimulus. Gold may witness choppy trade as gains in US dollar may be countered by US stimulus expectations,” he added.
Meanwhile, the rupee settled flat against the US dollar on Thursday┬аat 72.96 (provisional) for the second consecutive day,┬аeven as the domestic equity markets scaled fresh highs.┬аBrent crude futures, the global oil benchmark, rose 0.55 per cent to $┬а58.78 per barrel.┬а
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