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Gold prices today at Rs 54,120 per 10 gm, silver trends at Rs 63,000 a kg

In New Delhi the price of 22-carat gold remained at Rs 49,610 per 10 gm, while in Chennai it climbed to Rs 47,200

Topics
Silver Prices | MCX | Gold Price

BS Web Team  |  New Delhi 

Gold
In the international market, Gold retreated 1% to near $1,900 an ounce on Thursday on better-than-expected U.S. jobs data.

Gold prices today rose marginally to Rs 54,120 from Rs 54,100 per 10 gm yesterday, while silver was trending at Rs 63,000 per kg, according to the Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

In New Delhi the price of 22-carat gold remained at Rs 49,610 per 10 gm, while in Chennai it climbed to Rs 47,200. In Mumbai, the rate was Rs 50,100 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 51,490 per 10 gm.

On the MCX, December gold futures fell 1.11 per cent to Rs 50,764 per 10 gm, while silver December futures were at Rs 62,698 per kg.

Gold prices fell Rs 95 to Rs 51,405 per 10 gram in the national capital on Thursday amid a weak global trend and the rupee's appreciation, according to HDFC Securities. The precious metal had closed at Rs 51,500 per 10 gm in the previous trade.

also declined Rs 504 to Rs 63,425 per kg from Rs 63,929 per kilogram in the previous trade. "Spot gold prices for 24 carat in Delhi declined by Rs 95 on weak global prices and rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, Gold retreated 1% to near $1,900 an ounce on Thursday on better-than-expected U. S. jobs data, with appeal of the metal further weighed down by a stronger dollar and doubts over a U.

S. stimulus package before the presidential elections. Spot gold fell 1.2% to $1,901.16 per ounce by 12:36 a.m. ET (1636 GMT), and U. S. gold futures slipped 1.4% to $1,902.80.

"The jobless claims number, which is much better than expected," was pressuring gold, said Edward Moya, senior market analyst at OANDA, adding that "an improving number kind of takes away some of the urgency for getting a stimulus deal done now." Focus now shifts to the final U. S. presidential debate between Trump and Democratic rival Joe Biden on Thursday night ahead of the Nov. 3 election.

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First Published: Fri, October 23 2020. 07:55 IST
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