Gold Price Today Sustains Above ₹ 46,300, Silver Sees Marginal Rise

Gold prices continuing slump, domestic gold futures witnessed a volatile trading session, February 25. In the national capital, gold prices declined by ₹ 358 to ₹ 45,959 per 10 grams amid selling in the international markets, according to HDFC Securities. Silver rose by ₹ 151 to ₹ 69,159 per kg as compared to the previous close of ₹ 69,008 per kg. Multi Commodity Exchange (MCX) gold futures, due for delivery tomorrow, April 5, was last seen trading 0.46 % lower at ₹ 46,310, having swung between ₹ 46,230 and ₹ 46,655 during the session compared to their previous close of ₹ 46,522. Silver futures were last trading higher by 0.46 per cent at Rs 69,862.

“Spot prices for 24 karat gold at Delhi fell by ₹ 358 in line with selling in global gold,” said Tapan Patel, HDFC Securities Senior Analyst (Commodities). In the international markets, gold was down at $ 1,792 an ounce, while Silver was trading marginally lower at $ 27.56 an ounce.

Domestic spot gold closed at ₹ 46,637 per 10 grams Today, and silver at ₹ 70,179 per kilogram  both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). 

Ravindra Rao said VP- Head Commodity Research at Kotak Securities “COMEX gold trades little changed near $1797/oz after a 0.4 % decline yesterday. Gold is choppy as support from Fed’s loose monetary policy stance and hopes of additional US stimulus measures is countered by higher bond yields, improving virus situation and continuing ETF outflows. Gold may remain directionless amid mixed cues however Fed’s loose monetary policy stance may continue to support.”

Citizens Bee News Desk

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