Gold Price Today: Silver In Green, Gold Trades Weaker Mirroring Global Trends
Gold Price In India: Gold futures traded mixed on Friday, September 17, as the yellow metal mirrored trends in the international markets. On the Multi Commodity Exchange (MCX), gold futures due for an October 5 delivery, were last seen trading lower by Rs 7 - or 0.02 per cent - at Rs 46,069, compared to their previous close of Rs 46,076. Silver futures due for a December 3 delivery were last up 0.29 per cent at Rs 61,254 against a previous close of Rs 61,077.Â
#Gold and #Silver Opening #Rates for 17/09/2021#IBJA pic.twitter.com/2AkYUl3bkv
September 17, 2021Domestic spot gold opened at Rs 46,333 per 10 grams on Friday, and silver at Rs 61,063 per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).
Gold prices track a direct relationship with the dollar and shares an inverse relationship with the strengthening of the rupee against the US dollar.
ÂMr Amit Pabari, MD, CR Forex:
''Despite the equity market's outperformance, Rupee has been in the range of 73.00-75.00 zone over the last few months as RBI is managing it closely. Further, unexpected growth in the US, elevated inflation, and steady job market favours tapering case and hence bullish for USD against its peers. This could keep the rupee regularly in check.
In a nutshell, the tussle between ‘RBI/importers' and ‘inflows' continue further and hence Rupee could trade in the tight range of 73.30 to 73.80 over the short term and 73 to 74.20 over the medium term. The bias is likely to remain on the upside.''
''COMEX gold trades little changed near $1756/oz after a sharp 2.1 per cent decline yesterday. Weighing on gold is upbeat US economic data which strengthened the case for Fed's monetary tightening. However, supporting price is rising inflation concerns, persisting virus risks, concerns about the health of the Chinese economy and increased geopolitical tensions.ETF inflows also showed some buying interest at lower levels however the pace was modest. Gold's sharp fall has dented market sentiment however we believe that market reaction to US data was exaggerated and price may stabilize near $1750/oz level,'' said Mr Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities.Â
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
