Gold Prices Today: Yellow Metal Trades Below Rs 47,750, Silver Rates Plunge
Gold Price in India: Domestic gold futures witnessed a volatile trading session on Wednesday, February 3, as prices fluctuated throughout the trading session. In the national capital, spot gold rates slipped by Rs 232 to Rs 47,387 per 10 gm amid a decline in global precious metal prices, according to HDFC Securities. Silver prices also declined by Rs 1,955 to Rs 67,605 per kg, as compared to the previous close of Rs 69,560. Multi Commodity Exchange (MCX) gold futures, due for a February 5 delivery, swung between Rs 47,725 and Rs 47,955 during the session compared to their previous close of Rs 47,751. Silver futures for a March 5 delivery were trading higher by 1.59 per cent at Rs 68,616. (Also Read: Is Silver The New Gold?)Â
#Gold and #Silver Closing #Rates for 03/02/2021#IBJA pic.twitter.com/YRk4CKxBHn
February 3, 2021
Domestic spot gold closed at Rs 47,976Â per 10 grams on Wednesday, and silver at Rs 67,496Â per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).Â
“COMEX gold trades 0.5% higher near $1842/oz after a 1.6% decline yesterday. Supporting gold price is hopes of additional US stimulus, disappointing Chinese economic data and loose monetary policy stance of major central banks. However, weighing on price is recent gains in the US dollar and progress on the vaccine front. Gold may continue to witness mixed trade unless there is clarity on US dollar trend however we expect price to trade with a positive bias on US stimulus expectations and loose monetary policy stance of central banks,'' said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.
In the international market, gold was quoting lower at $ 1,835 per ounce and silver was flat at $ 26.78 per ounce. Gold prices are trading under pressure on stronger dollar and rally in equity indices, according to Tapan Patel, HDFC Securities, Senior Analyst (Commodities)Meanwhile, the rupee ended on a flat note and settled one paisa higher against the US dollar on Wednesday, at 72.95 (provisional) amid a firm trend in the domestic equity markets. Brent crude futures, the global oil benchmark, rose 0.99 per cent to $ 58.03 per barrel.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
