Spot gold edged 0.3 per cent decrease to $1,776 per ounce.
Gold and Silver Price Today: Gold futures costs fell marginally on the Multi Commodity Exchange whereas silver futures edged marginally larger on Friday. Gold future for supply of June 4 was unchanged at Rs 46,726 per 10 grams. It touched excessive of Rs 46,743 and low of 46,620. In the spot market, high quality gold was bought at Rs 46,930 per 10 grams on April 29, in line with India Bullion and Jewellers Association’s (IBJA) tweet.
Gold for 22 carat was bought at Rs 45,330 per 10 gram, 18 carat was sld at Rs 37,540 per 10 gram and 14 carat gold was bought at Rs 31,210 per gram.
Meanwhile, silver costs edged marginally larger on the MCX as Silver futures for dellivery on May 5 rose 0.14 per cent to 67,566 per kilogram. It touched hgh of Rs 67,395 and low of Rs 67,580 per kilogram.
In worldwide markets, Gold fell on Thursday, giving up early positive factors as US Treasury yields rose forward of US financial knowledge, whereas persistent provide issues pushed palladium to an all-time peak.
Spot gold edged 0.3 per cent decrease to $1,776 per ounce. US gold futures rose 0.1 per cent to $1,776.10 per ounce.
“Whenever the U.S. yields have pushed up, gold has gone lower and we’re seeing the effects of that today,” stated CMC Markets UK’s chief market analyst Michael Hewson.
“Gold’s (next) move will be dictated by the U.S data. Today’s Q1 GDP report is important. But it’s the jobless claims numbers that I’m interested in. If they come below 600,000 for a third week in a row, that will then shift the market consensus to non-farm payrolls next week.”
“Gold June futures contract were settled at 46,726 per 10 gram with a loss of 0.78 per cent and silver May futures contract were settled at 67,474 per one kilogram with a loss of 0.46 per cent. Gold slipped on Thursday in the third straight session amid rebound in the dollar index from seven weeks low and surge in benchmark 10-year bond yields in the United States. At MCX, gold is having support at 46,550-46,300 and resistance at 46,920-47,100 and silver is having support at 67,100-66,600 and resistance at 67,800-68,300 levels. We suggest buying in silver around 67,000 with a stop loss of 66,500 for the target of 68,200,” Manoj Kumar Jain, Director and Head of commodity & foreign money analysis at Prithvi Finmart stated.
(With inputs from Reuters)
