Gold Price Today: Gold Futures Hold Rs 47,900 Per 10 Grams Mark
Gold Rate In India: Domestic gold futures held above the Rs 47,900 per 10 grams mark on Monday. MCX gold futures moved in a range of Rs 47,792-48,289 per 10 grams before turning flat in evening trade, compared to their previous close of Rs 47,937 per 10 grams. At 5:21 pm, the gold futures contract - for delivery on August 5 - was down 0.04 per cent (or Rs 17 per 10 grams) at Rs 47,920 per 10 grams. (Track Gold Rate In India Here)
According to the India Bullion and Jewellers Association (IBJA), a Mumbai-based industry body, the opening rate of gold jewellery stood at Rs 48,300 per 10 grams, and silver at Rs 49,061 per kilogram - both excluding Goods and Services Tax (GST).
#Gold and #Silver Opening #Rates for 22/06/2020#IBJA pic.twitter.com/rQ5vOm1DV7
June 22, 2020Gold jewellery prices vary in different parts of India - the second largest consumer of the precious metal - due to factors such as excise duty, state taxes and making charges.
In the international market, gold prices held firm on Monday, having scaled a more than one-month peak, as a resurgence of coronavirus infections in many countries raised concerns over a swift global economic recovery.
Spot gold was last seen trading 0.3 per cent higher at $1,747.59 per ounce.
Domestic share markets closed at a three-month high on Monday as domestic regulatory approvals to manufacture COVID-19 drugs lifted pharmaceutical stocks, outweighing the impact of a surge in domestic as well as global coronavirus cases over the weekend.
The NSE Nifty 50 index - which has recovered ground after taking a hit from worries about a violent border clash with China last week - ended up 0.65 per cent at 10,311, its highest since March 11.
In March, commodity exchanges cut down trading hours, in a shift from the practice of allowing trading till midnight, in the wake of coronavirus pandemic. The trading now begins at 9 am and ends at 5 pm, instead of 11:50 pm earlier.
Gold Price: What Analysts Say On Current Gold Rate
“After trading in a broad range of $1,680-1,750/oz, COMEX gold finally broke out on the upside supported by safe-haven buying amid increasing coronavirus cases, US-China tensions and geopolitical issues. As of this writing gold is trading at $1770/oz up more than 1 per cent,” said Ravindra Rao, VP-head commodity research at Kotak Securities.
"Sharp exchange traded fund inflows also show renewed buying over $1750/oz level. Gold is expected to trade with the positive bias as the bulls might target the recent highs near $1788/oz,” he added.
-
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.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
