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Gold prices today ease, stay below Rs 51,000

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NEW DELHI: Gold and silver saw income booking by traders upon Tuesday, in line with global sticks, but losses were given by worries over fiscal recovery.

Japan’s economy shrank more than initially estimated in q2, while German industrial outcome rose far less than predicted in July, suggesting Europe’s largest economy faces the slow return to pre-pandemic development levels.

Gold futures upon MCX were down zero.42 per cent or Rs 216 at Rs 50,849 per 10 grms. Silver futures dipped 0.53 per cent or Rs 363 to Rs 67,908 per kg.

Gold price for Monday rose Rs 258 to Rs 51,877 per 10 grams inside the national capital supported by rupee depreciation, according to HDFC Investments. Silver also gained Rs 837 to Rs 69,448 per kg.

Globally, gold prices eased since the dollar strengthened, although climbing doubts over the economic recuperation from the coronavirus slump confined losses, with investors looking ahead to the outcome of the European Core Bank meeting this week.

Spot gold was along 0.2 per cent in $1,925.68 each ounce by 0048 GREENWICH MEAN TIME (GMT). US gold futures were being steady at $1,934.60.cThe dollar list rose 0.2 % against its rivals, building gold more expensive for owners of other currencies.

Silver fell 0.9 % to $26.75 each ounce, platinum eased zero.2 per cent to $906.17 and palladium gathered 0.3 per cent for you to $2,302.74.

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