Gold Price Today: Gold Futures Trades Lower, May Remain Below Rs 48,000 Mark


Gold futures were last seen trading lower by Rs 75 – or 0.16 per cent – at Rs 47,559

Gold Price In India: Gold futures traded in the negative territory on Friday, July 23, as the yellow metal mirrored global trends – wherein international markets, the yellow metal headed for its first weekly fall in five. On the Multi Commodity Exchange (MCX), gold futures due for an August 5 delivery, were last seen trading lower by Rs 75 – or 0.16 per cent – at Rs 47,559, compared to their previous close of Rs 47,634. Silver futures due for a September 3 delivery were last down 0.07 per cent at Rs 67,329 against a previous close of Rs 67,374.

Domestic spot gold opened at Rs 47,922 per 10 grams on Friday, and silver at Rs 67,345 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).

Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities:

“COMEX gold trades little changed near $1804/oz after a 0.1% gain yesterday. Gold is choppy near $1800/oz as support from rising virus cases, disappointing US economic data and ECB’s dovish stance is countered by rise in bond yields and stability in equity markets.

ETF investors also remained on sidelines awaiting fresh cues. Gold continues to hold near $1800/oz and buying interest may emerge at lower levels amid persisting challenges to global economy and loose monetary policy stance of some central banks”.

Source link