Gold Price Today: Yellow Metal Gains Rs 112 To Rs 44,286 Amid Rupee Depreciation
Gold Price in India: Domestic gold futures witnessed a volatile session on Wednesday, March 10. Spot gold prices rose marginally by Rs 112 to Rs 44,286 per 10 gram in the national capital, tracking depreciation of the rupee. Silver also gained Rs 126 to Rs 66,236 per kg, compared to Rs 66,110 per kg in the previous trade, according to HDFC Securities.
Multi Commodity Exchange (MCX) gold futures, due for an April 5 delivery, was last seen trading 0.15 per cent lower at Rs 44,790, having swung between Rs 44,630 and Rs 44,944 during the session compared to their previous close of Rs 44,857. Silver futures were trading lower by 0.17 per cent at Rs 67,367. (Also Read: Insurance, Stocks, Gold: Here Are Some Popular Investing Habits Of Indian Women In 2021 )
Domestic spot gold closed at Rs 44,680 per 10 grams on Wednesday, and silver at Rs 66,370 per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). "Gold prices traded marginally down at COMEX (New York-based commodities exchange). The rally in equity indices and firm dollar may limit upside in precious metals for the day,'' said Tapan Patel, Senior Analyst, HDFC Securities.
In the international market, gold was trading marginally lower at $ 1,711 per ounce and silver was flat at $ 25.78 per ounce.
''Gold rallied sharply yesterday on correction in US bond yields and US dollar. Gold however eased today as US dollar recouped some losses. While gold sways along with the US dollar, support from US stimulus and Chinese equity market sell-off is countered by weaker investor interest. Gold may continue to sway along with US dollar however a sharp rise is unlikely unless bond yields correct sharply,'' said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.
Meanwhile, the rupee edged marginally higher by two paise to settle at 72.91 against the dollar today tracking US bond yields. Global oil benchmark Brent crude futures slipped 0.30 per cent to $ 67.32 per barrel.
