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Gold rate eases, stays below Rs 51,000

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NEW DELHI: Gold together with silver saw profit arranging by traders on Tues, in line with global cues, nonetheless losses were capped by means of worries over economic healing period.

Japan’s economy shrank greater than initially estimated in the second quarter, when German industrial output went up far less than expected within July, suggesting Europe’s greatest economy faces a sluggish return to pre-pandemic production amounts.

Gold futures on MCX were down 0.42 per cent or Rs 216 at Rs 50,849 per 10 grams. Silver prices dipped 0.53 percent or Rs 363 to help Rs 67,908 for every kg.

Gold prices upon Monday rose Rs 258 to Rs 51,877 per 10 grams inside 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 as being the dollar strengthened, although soaring doubts over the economic healing period from the COVID-19 slump constrained losses, with investors expecting the outcome of the European Core Bank meeting this week.

Spot gold was decrease 0.2 per cent on $1,925.68 for every ounce by 0048 GREENWICH MEAN TIME. US gold futures had been steady at $1,934.60. The dollar list rose 0.2 percent against its rivals, generating gold more expensive for cases of other currencies.

Silver fell 0.9 percent to $26.75 for every ounce, platinum eased zero.2 per cent to $906.17 and palladium received 0.3 per cent to help $2,302.74.

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