Gold Price Today: Yellow Metal Falls To Trade At Rs 48,953, Silver Also Slides


Gold price today: Yellow metal rates slid on Monday, Silver also fell

Gold and silver prices in India went down due to sluggish global cues. On MCX, gold futures were down 0.08 per cent to Rs 48,953 per 10 gram while silver futures were down to Rs 71,308 per kg.

In India, gold rates turned volatile after they hit near five-month high of Rs 49,800 last week. In August last year, gold had risen to a record high of Rs 56,200.

In international markets, gold prices moved lower, hurt by a stronger US dollar. Spot gold was down at $1,886.76 per ounce. However, softer US bond yields capped losses in the precious metal. Among other precious metals, silver dropped to $27.58 per ounce while platinum rose to $1,164.72.

The dollar index rose 0.03 per cent against its rivals to 90.157, making gold more expensive for holders of other currencies. Supporting gold however was lower US bond yields which retreated after a weaker-than-expected U.S. monthly jobs report that eased investor concerns about a tightening of monetary policy by the Federal Reserve.

Source link