Gold prices today fall to lowest in over a month: Here is today rate
Gold prices in India extended their recent slide when they slipped amid weak global cues. On MCX, gold futures fell 0.14% to over one month low of Rs 48,636 per 10 gram, extending their decline to the third day.
Silver futures edged 0.3% higher to Rs 64,984 per kg. In the previous session, gold prices had declined Rs 500 per 10 gram while silver had slumped Rs 1,700 per kg. In global markets, gold prices declined sharply today amid a stronger US dollar. Spot gold fell 0.5% to $1,819.77 an ounce, extending previous week’s 1% fall.
Other precious metals like silver and palladium were also under pressure. Silver fell 0.6% to $24.57 an ounce and palladium shed 0.2% to $2,377.49 but platinum rose 0.4% to $1,078.19. After a nearly 25% last year, gold prices have dropped 3% in India so far this year, tracking weak global prices.
Higher US Treasury yields and the dollar put pressure on the yellow metals. The US dollar strengthened to its highest in four weeks against rival currencies. The dollar index rose 0.03% to 90.793 today.
Last week, US President-elect Joe Biden said he wants 100 million COVID-19 vaccine shots during his first 100 days in office. Earlier, he had unveiled a $1.9 trillion stimulus package proposal to jump-start the economy.
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