Gold costs fell at present whereas silver too continued with its slide
Gold costs fell at present in Indian markets whereas silver additionally continued with its slide for the third straight day, as on MCX, gold futures have been down 0.32 per cent to Rs 48,520 whereas silver was off 0.4 per cent to Rs 72,073 per kg.
In the earlier session, gold had hit a 3-month excessive of Rs 48,700 per 10 gram. On MCX, gold has help at Rs 48000-47900 ranges.
In worldwide markets, gold charges have been flat at at $1,869.50 per ounce. On Wednesday, gold had hit a close to four-month excessive of $1,889.75. Stronger greenback and better bond yields weighed on gold.
“COMEX gold trades 0.4 per cent lower near $1873 per ounce after a 0.7 per cent gain on Wednesday when it tested the highest level since early January. Gold came under pressure as FOMC minutes noted that discussions over tapering of bond purchases have begun even as the central bank continues with an accommodative stance,” based on Ravindra Rao, CMT, EPATVP-Head Commodity Research, Kotak Securities Ltd.
