Gold Today Falls for Second Day; Sliver Drops

Gold rates in the country were trading lower on Tuesday, even as rates in global markets were steady.


The yellow metal rates in India were trading flat on Tuesday, even as the prices in global markets were steady.


Gold October futures were trading fell by rupees 33 at rupees 47,392 per 10 gram on Multi Commodity Exchange (MCX). In the previous session, gold futures closed at rupees 47,425.


On the other side, the silver December futures were trading down rupees 117 or 0.18 percent at Rs 65,175 per kilogrambas against the previous close at rupees 65,292.


Gold prices today in the financial capital of the country, Mumbai is rupees 46,530 per 10 gram of 22-carat and in national capital is rupees 46,660 per 10 gram of 22-carat.


Gold prices in Chennai and Kolkata for 22-carat per 10 grams is rupees 44,790 and rupees 46,950, respectively.


In the international market, as per to the news agency Reuters, gold prices were steady on the back of a softer dollar and prospects of the US Federal Reserve delaying a decline in its pandemic-era bond purchases.


Spot gold surges 0.2 percent to USD 1,826.75 per ounce and US gold futures firm 0.3 percent to USD 1,828.


Back to home, gold imports of the country in August roughly doubled to the highest in five months on strong demand.


The the fall in prices motivated jewellers to increase their purchases for the festive season.


India had imported 121 tonnes of gold in August, 2021, as against the previous year August imports of 63 tonnes.

India Scanner News Network

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