Gold and silver rate: Gold and silver were under pressure today in domestic markets after posting moderate gains last week. On MCX, gold futures were down 0.24% to Rs 51,750 per 10 gram while silver rates dipped 0.4% to Rs 68550 per kg.
In global markets, gold was steady today after eking out gain in the previous week. Spot gold was trading at $1,955.72 an ounce today after climbing 1.9% last week as investors weighed the latest developments in Russia’s war in Ukraine.
Though gold has come off recent highs, Ukraine war and steady inflows into bullion-backed ETFs have helped cap the downside. Holdings in exchange-traded funds backed by the metal rose for a 10th straight week.
Also Read: Petrol, diesel prices hike today: Check latest rate in major cities
Investors are seeking a store of value amid inflationary pressures stoked by soaring commodity prices partly caused by the war and ensuing sanctions. Meanwhile, face-to-face talks between Ukrainian and Russian negotiating teams are set to resume this week.
Petrol, diesel prices hike today: Check latest rate in major cities
Petrol price on Monday was hiked by 30 paise a litre and diesel by 35 paise, taking the total increase in rates in the last one week to Rs 4-4.10 per litre. Petrol, diesel prices hike today: Check latest rate in major cities.
Petrol in Delhi will now cost Rs 99.41 per litre as against Rs 99.11 previously while diesel rates have gone up from Rs 90.42 per litre to Rs 90.77, according to a price notification of state fuel retailers. Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.
This is the sixth increase in prices since the ending of a four-and-half-month-long hiatus in rate revision on March 22. In the first four four occasions, prices were increased by 80 paise a litre – the steepest single-day rise since the daily price revision was introduced in June 2017.
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