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Gold prices hold steady, near Rs 51,500 per 10 gram

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NEW DELHI: Gold and sterling silver prices were trading over a flat note in Thursday’s session ahead of European Core Bank (ECB) policy meet up with outcome later in the time while non-stop rise in COVID-19 cases supported the prices.

The ECB is set to be able to announce its rate choice at 1145 GMT in Thursday. Investors will look for its inflation forecasts, however no major policy steps are expected since it has served aggressively to shore the particular virus-hit economy.

Gold futures and options on MCX were upwards 0.01 per penny or Rs 6 in Rs 51,408 per 10 grams. Silver futures extra 0.36 per penny or Rs 248 to be able to Rs 68,691 per kg.

Gold prices went up by by Rs 251 to be able to Rs 52,149 per 10 gram in the nationwide capital on Wednesday, as per HDFC Securities. Silver prices also jumped Rs 261 to Rs 69,211 per kilogram.

Globally, yellow metal prices held steady near a one-week high on Thurs night as the U.S. dollars weakened ahead of a policy choice by the European Central Standard bank due later in the time.

Spot gold has been little changed at $1,946.10 per oz by 0030 GMT, following hitting its best stage since Sept. 3 in $1,950.51 in Wednesday. US gold futures and options were flat at $1,954.50.

The dollars index fell from a four-week high against its equals, making gold less expensive intended for holders of other currencies.

Meanwhile, SPDR Gold Confidence , the world’s largest gold-backed exchange-traded fund, said their holdings rose 0.two per cent to 1,252.96 tonnes on Thursday from 1,250.04 tonnes on Tuesday.

Silver fell 0.4 per cent to $26.92 per ounce, platinum went up by 0.3 per penny to $918.26 in addition to palladium gained 0.nine per cent to $2,292.28.

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