(Reuters) - Gold edged lower in choppy trade on Tuesday as the dollar recovered ground lost in the immediate wake of comments from U.S. Federal Reserve Chairman Jerome Powell, who said the economic recovery was "uneven and far from complete."
The dollar index surrendered early gains and was hovering near a six-week low,
Gold prices on Tuesday jumped to Rs 46,372 per 10 grams
12-15% allocation is a must to counter volatility in equities
Spot gold was up 1.6% at $1,810.45 an ounce
Gold jewellery prices vary across India, the second-largest consumer of the metal, due to differing excise duty, state taxes, and making changes in different states
The fall in gold prices may be a boon for the gold ETF category, which has seen inflows of over Rs 1,000 crore in the past two months
On Friday, local gold futures fell to 45,861 rupees per 10 grams, the lowest level since June 2020
Spot prices touched a seven-month low on Friday, deepening a slump and breaching through a support level that analysts say could portend further losses
Unlike yellow metal, platinum tends to have a positive correlation with equities
Lead is in overbought zone as RSI_14 is at 74, but there is no reversal chart pattern on the daily scale or divergence on momentum indicator
Spot gold fell 1.1% to $1,798.46 an ounce
Spot gold lost 0.5 per cent to $1,816.40 an ounce by 5:51 pm (IST) and US gold futures were down 0.6 per cent at $1,816.30
Spot gold dipped 0.3% to $1,820.73 per ounce by 0245 GMT. Prices were up 0.5% so far this week. U.S. gold futures slipped 0.3% to $1,821.10
Ace investor Rakesh Jhunjhunwala holds 5.32 per cent stake in the company as of December quarter
Gold rose on Wednesday, hovering near a one-week peak hit in the previous session, as a weaker dollar and rising hopes of a US stimulus elevated bullion's appeal as a hedge against inflation
Spot gold was up 0.7% to $1,842.47 per ounce, after hitting its highest since Feb. 2 at $1,848.40 earlier in the session
Spot gold rose 1.4% to $1,836.95 per ounce
Spot gold fell 0.1% to $1,810.65 per ounce. U.S. gold futures eased 0.1% to $1,811.10
In New Delhi, the price of 22-carat gold was at Rs 46,210 per 10 gm, while in Chennai it declined to Rs 44,700