ilver headed for its worst week in three after retreating sharply from multi-year highs hit earlier this week on the back of increased interest from retail traders
Spot gold rose 0.1% to $1,794.11 per ounce by 0247 GMT. Prices fell over 2% to their lowest level since Dec. 1 on Thursday
Spot gold was 2.3% lower at $1,790.92 per ounce
Spot silver declined 1.3% to $26.51. Prices have eased since hitting a near eight-year peak of $30.03 on Monday as the social media-driven rally fizzled out
CME has raised margin for silver to push back any more speculative moves
Gold in the national capital on Wednesday declined by Rs 232 to Rs 47,387 per 10 gram amid decline in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,619 per 10 gram. Silver also dipped Rs 1,955 to Rs 67,605 per kilogram from Rs 69,560 per kilogram in the previous trade. In the international market, gold was quoting lower at USD 1,835 per ounce and silver was flat at USD 26.78 per ounce. Gold prices are trading under pressure on stronger dollar and rally in equity indices, according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
The number of places where gold can be tendered is limited and the staff there is ill-trained, making the scheme a non-starter
Spot gold was unchanged at $1,840.91 per ounce by 0058 GMT. Prices were down 0.6% for the week and 2.9% for the month. U.S. gold futures rose 0.1% to $1,839.70
Spot gold was down 0.2% at $1,840 an ounce by 1258 GMT. Prices had fallen to their lowest since Jan. 18 at $1,830.80 on Wednesday.
Total investment demand for 2020 was down by 11 per cent at 130.4 tonnes in comparison to 145.8 tonnes in 2019, according to WGC's latest Gold Demand Trends report
Demand is expected to jump closer to the 690 tons bought in 2019 as the country's economy shows signs of recovery, P R Somasundaram, managing director at the council for India, said
Gold will trade in range until market gets more clarity on the new Joe Biden-administration's policies
Spot gold gained 1.18 per cent to $1,862.10 per ounce by 8.20 pm IST, having risen 1 per cent to a near one-week high earlier
Yellen on Tuesday said pandemic relief would take priority over tax increases
Spot gold gained 0.6% to $1,850.66 per ounce by 0604 GMT. U.S. gold futures added 0.5% to $1,850
Spot gold was up 0.3% at $1,832.36 per ounce by 9:54 a.m. EST (1454 GMT), after falling to $1,809.90, its lowest since Dec. 2. U.S. gold futures rose 0.1% to $1,831.90
Earlier in the session, the U.S. dollar held near a four-week peak against rival currencies, making gold expensive for holders of other currencies
Gold rose as prospects of a substantial US pandemic relief package boosted the metal's appeal as an inflation hedge, while the Federal Reserve's dovish stance on monetary policy also supported prices
In New Delhi, the gold price of 22-carat gold is at Rs 48,350 per 10 gm, while in Chennai it fell to Rs 46,600
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