HIGHLIGHTS

• Gold is retailing at Rs 47,480 per 10 grams on the MCX.
• Silver stands at Rs 62,792 per kg with a downfall of 0.22 per cent.
• Gold prices fell slightly on the international market.

Witnessing a dip of Rs 82 or 0.17 per cent on Tuesday, gold futures maturing on October 5, 2021, stand at Rs 47,480 per 10 grams on the Multi Commodity Exchange (MCX). Meanwhile, silver futures maturing on September 3, 2021, are retailing at Rs 62,792 per kg with a downfall of 0.22 per cent or Rs 139.

Yesterday, while gold stood at Rs 47,215 per 10 grams, with a hike of Rs 72 or 0.15 per cent, silver traded at Rs 62,144 per kg and recorded a hike of 0.36 per cent or Rs 223. The prices of gold and silver stood at Rs 47,584 and Rs 62,927, respectively, on the MCX when the market closed on August 23.

Gold, Silver prices on international market:

As per Reuters, gold prices fell slightly on Tuesday and hovered above the key psychological level of $1,800, news agency Reuters reported. Gold prices hovered as there were expectations that the U.S. Federal Reserve might delay cutting back its stimulus amid rising cases of the Delta coronavirus variant, reports stated.

Meanwhile, spot gold eased 0.2 per cent to $1,801.78 per ounce and U.S. gold futures were little changed at $1,804.90, Reuters reported. In another significant development, the dollar index went up a little higher after it slumped on Monday.

U.S. business activity growth witnessed a decline for a third straight month in August as capacity constraints and supply shortages resulted from the novel coronavirus pandemic. All eyes of investors are now set on Fed Chair Jerome Powell’s speech in which guidance on the U.S. central bank’s taper plans is awaited.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.5 per cent on the global front. On the other hand, silver fell 0.5 per cent to $23.54 per ounce and platinum edged 0.3 per cent higher to $1,015.92.

Gold and silver prices in India: