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Gold rate today slips over Rs 400 to Rs 51,400 on weak global trend

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NEW DELHI: Gold and silver futures slipped on early trade on Thursday tracking the particular trend in global trading markets and after the US Fed insurance policy outcome late last night.

The central bank in its insurance policy statement also said it could keep rates at around zero levels until increase is on track to “moderately exceed” its 3 per cent inflation target “for some time.”

Gold options contracts on MCX were lower 0.80 per cent or perhaps Rs 415 at Rs 51,409 per 10 grams. Silver futures fell 1.34 per cent or Rs 919 to Rs 67,862 per kg.

Gold prices fell Rs 137 to Rs 53,030 per 10 gram inside the national capital on Wed amid rupee appreciation, in accordance to HDFC Securities. Silver precious metal also declined Rs 517 to Rs 70,553 per kg.

Globally, yellow metal prices eased on Thursday night as the U.S. dollars firmed, although doubts over a swift global monetary recovery and the Federal Reserve’s pledge to hold percentage of interest near zero until a minimum of 2023 limited losses for your safe-haven metal.

Spot gold was down zero.3 per cent to $1,954.42 per whiff by 0034 GMT, soon after hitting its highest given that Sept. 2 at $1,973.16 on Wed. US gold futures droped zero.4 per cent to $1,962.90.

The dollar index rose 0.1 per cent against the rivals, making gold more costly for holders of additional currencies. Longer-term U.S i9000. Treasury yields hit his or her highest levels this week.

The Bank of Japan is scheduled to keep monetary insurance policy steady on Thursday, as the Bank of England is definitely expected to signal it is getting ready to pump still more stimulus into Britain’s economy.

Silver dropped zero.8 per cent to $27 per ounce, platinum dropped 0.9 per cent to $959.58 and caution slipped 0.9 percent to $2,378.86.

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