Gold Price On April 11, 2022: Yellow Metal Prices Slid Today
Gold prices on April 11, 2022: Yellow metal rates slid in Indian markets owing to softening in global prices. On the MCX, gold prices fell to Rs 52,050 per 10 gram after rising for three days.
Silver prices also dipped to Rs 66,960 per kg on the MCX.
In the international markets, gold rates eased on Monday but losses were capped amid fresh concerns over Russia's attacks in eastern Ukraine. Â
Spot gold was down 0.2 per cent at $1,942.93 per ounce, after hitting a more than one-week high of $1,949.32 earlier in the day. US gold futures were flat at $1,945.70, Reuters reported.
"Gold is still trading sideways and that reflects the conflicting currents that we're looking at. There's still real concern about the geopolitical outlook and the potential for escalation in Ukraine," said Michael McCarthy, chief strategy officer at Tiger Brokers, Australia.
"At the same time, a stronger USÂ dollar and potential for higher interest rates around the globe are keeping a lid on enthusiasm for gold."
Russian forces pounded targets in eastern Ukraine with missiles and artillery on Sunday, lending some support to the safe-haven metal.
Palladium was up 2.6 per cent at $2,487.83 after hitting a more than two-week high earlier in the session.
The auto-catalyst metal had gained 8.6 per cent on Friday after newly refined Russian platinum and palladium were suspended from trading in London, the metals' biggest trade hub.
Spot silver shed 0.2 per cent to $24.69 per ounce and platinum rose 0.5 per cent to $979.97.
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