Gold prices on April 25, 2022: Yellow metal prices on Monday fell marginally in the domestic market as on the MCX, gold futures slid by around 0.75 per cent to Rs 51, 874 per 10 grams. Silver prices also fell by around 1 per cent to Rs 65, 745 per kg.
Gold prices on April 25, 2022: Yellow metal prices on Monday fell marginally in the domestic market as on the MCX, gold futures slid by around 0.75 per cent to Rs 51, 874 per 10 grams. Silver prices also fell by around 1 per cent to Rs 65, 745 per kg.
In the domestic markets, gold prices have had a free fall, having fallen by around Rs 1,800 per 10 grams in the past six days.
In the international market, yellow metal rates remained stable against a stronger dollar and bond yields.
According to Reuters, globally, gold languished near two-week lows amid elevated US dollar and firm bond yields. Spot gold was down 0.1 per cent at $1,928.08 per ounce, the lowest since April 7. The dollar index edged higher to 101.265, making gold less attractive for buyers holding other currencies.
With expectations for a half-percentage point interest rate hike at the Fed's May meeting now locked in, traders on Friday piled into bets that the US central bank will go even bigger in subsequent months, the agency reported.
Gold is highly sensitive to rising US short-term interest rates and higher yields, which increase the opportunity cost of holding non-yielding bullion. It is, however, seen as a safe store of value during economic and political crises, Reuters further reported.
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