The decline in gold prices in the last three sessions stopped on Monday. The price of gold in the national capital increased by Rs 570 to Rs 78,700 per 10 grams on December 23. All India Bullion Association gave this information. According to PTI news, it said that the price of the yellow metal rose due to buying by stockists and investors following a strong global trend. On Friday, this precious metal closed at Rs 78,130 per 10 grams.
gold in futures trading today
According to the news, the price of gold of 99.5 percent purity also increased by Rs 570 to Rs 78,300 per 10 grams on Monday. In the last session on Friday, it had closed at Rs 77,730 per 10 grams. Gold contracts for February delivery fell by Rs 48, or 0.06 per cent, to Rs 76,372 per 10 grams in futures trade on the Multi Commodity Exchange (MCX). In overseas markets, Comex gold futures fell $6.70 an ounce, or 0.25 percent, to 2,638. Came to $40 per ounce.
Gold has recovered from the low level of one month and three and a half months
Traders said value buying by stockists and jewelers for the ongoing wedding season supported gold prices. Rahul Kalantri, Vice President Commodities, Mehta Equities Ltd, said gold prices have recovered from a one-and-a-half month low in a highly volatile session. Profit-booking was seen in the dollar index and bond yields, which supported the precious metal.
This idea is about gold
Saumil Gandhi, Senior Analyst, Commodities, HDFC Securities, said that on the macro front, US CB consumer confidence data will be released later, which will provide further impetus to the trajectory of bullion prices. According to Praveen Singh, Associate Vice President, Fundamental Currencies and Commodities, Mirae Asset Sharekhan, gold is expected to trade with a slight positive bias in the very short term. However, strong US Q3 GDP growth and retail sales (November) data and the US Federal Reserve’s hawkish stance will keep the momentum in check.
Latest Business News