Gold Rates Today: On the Multi Commodity Exchange (MCX), gold futures started buying and selling at Rs. 56196.00 per 10 grams, displaying a slight rise of 0.12%. On the opposite hand, silver futures opened at Rs. 65726.00 per kilogram, with a slight lower of 0.47%.
As of two:09 pm GMT, spot silver skilled a lower of 1.42% and was buying and selling at $21.53 per ounce. Platinum noticed a lower of 1.31%, reaching a value of $918.38. On the opposite hand, Palladium noticed a decline of three.24% and was buying and selling at $1,448.86.
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Gold prices hit a new low for the day, in response to better-than-expected January retail gross sales knowledge. The newest figures from the U.S. Commerce Department point out that retail gross sales rose 3% final month, following a 1.1% drop in December, surpassing economists’ projected 1.8% enhance. Core gross sales, which exclude automobile gross sales, additionally exceeded expectations, surging 2.3% in contrast to the anticipated 0.8% rise.
Meanwhile, the report’s management group, which eliminates autos, gasoline, constructing supplies, and meals providers, rose by 1.7% versus the anticipated 0.8% enhance. As a results of the information, gold prices decreased, with a drop of about $20 in early-morning buying and selling, and April Comex gold futures down by 1.22% on the day, buying and selling at $1,842.60.
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