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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Gold Price Today: Yellow metal opens flat at Rs 87,534/10 gms amid volatility, silver near Rs 1 lakh/kg mark
gold April futures contracts at MCX on Wednesday opened flat with a negative bias, down by Rs 20 or 0.02% at Rs 87,534/10 grams, while the silver May futures opened higher by Rs 220 or 0.22% at Rs 99,373/kg.
On Tuesday, gold and silver settled on a positive note in the domestic and international markets. Gold April futures contract settled at Rs 87,554 per 10 grams with a gain of 0.32%, and silver May futures contract settled at Rs 99,153 per kilogram with a gain of 1.70%.
Gold and silver prices gained amid safe-haven buying after disappointing U.S. consumer confidence data. Unstable U.S. trade and foreign policies are the major reason for the decline of consumer confidence in the fourth consecutive month.
The U.S. consumer confidence index in March month dropped to 92.9 against February month’s revised reading of 100.0 and economist were expecting a reading of 94.2. Pessimism about future business conditions and confidence about future job prospects are also falling to 12-year lows and supporting safe-haven bid for precious metals.
Today, the US Dollar Index, DXY, was hovering near the 104.28 mark, gaining 0.76 or 0.07%.
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“Gold and silver prices also gained due to tensions in the Middle East and fading chances of a Russia-Ukraine peace deal. However, the U.S. 10-year bond yields fetching above 4.30% levels and could limit gains of gold and silver prices,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.
“We expect gold and silver prices to remain volatile this week amid volatility in
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How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
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Even at $5 trillion, Nvidia is underappreciated
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21.05 / 10:17
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