Gold Rates Soar Again, Silver Prices Dip — Check Latest Market Rates
Gold prices in the national capital surged by Rs 550 to Rs 97,350 per 10 grams on Monday, tracking gains in global markets, according to the All India Sarafa Association.
New Delhi: Gold prices in the national capital surged by Rs 550 to Rs 97,350 per 10 grams on Monday, tracking gains in global markets, according to the All India Sarafa Association.
Table of Contents
99.5% Purity Gold Also Rises Sharply
Gold of 99.5 per cent purity saw a similar rise, climbing to Rs 96,900 per 10 grams, compared to Rs 96,350 in the previous session.
Gold Futures Rally on MCX
The most-traded June contract for gold futures on the Multi Commodity Exchange (MCX) soared Rs 1,663 or 1.8% to settle at Rs 94,300 per 10 grams.
Silver Prices Decline by Rs 400
Contrary to gold, silver prices slipped Rs 400 to Rs 96,700 per kg, down from Rs 97,100 in the previous session.
Global Gold Surges on Softer Dollar
In international markets, spot gold rose USD 46.34 or 1.43% to USD 3,286.83 per ounce amid a weaker dollar ahead of the US Federal Reserve’s FOMC meeting.
Market Eyes Fed Policy and US-China Tensions
“Gold surged to USD 3,280 per ounce on a softer dollar ahead of the upcoming US Fed’s two-day FOMC meeting starting Tuesday,” said Kaynat Chainwala, AVP of Commodity Research at Kotak Securities.
“Uncertainty around US-China trade developments is also likely to keep risk sentiment cautious,” she added.
Spot Silver Also Up Globally
Despite its domestic decline, spot silver in international markets rose 1.24% to USD 32.41 per ounce, indicating mixed trends across global and domestic markets.
