The price of 22-carat gold fell Rs 150 from yesterday's close to Rs 51,450
22-carat gold was selling at Rs 51,600 per 10 grams
On the upside, Gold futures can rally to Rs 56,580 during the course of the month.
22-carat gold was selling at Rs 51,300 per 10 grams
The price of 22-carat gold fell Rs 400 from yesterday's close to Rs 50,900, according to the GoodReturns website
The yellow metal had ended at Rs 55,803 per 10 grams in the previous trade
The price of 22-carat gold rose by Rs 200 from yesterday's to Rs 51,300
Market focus now turns to the ADP National Employment Report due at 1315 GMT, followed by the U.S. Labor Department's nonfarm payrolls (NFP) data on Friday
The price of ten grams of 24-carat gold in Delhi, Chennai, and Bangalore is Rs 55,900, Rs 57,140, and Rs 55,800, respectively
Brent futures fell $3.70 to $78.40 a barrel, a 2.9 per cent loss. US crude dropped 3.5 per cent, to $73.36 per barrel. Both benchmarks plunged more than 4 per cent
The market now awaits the 2 p.m. EST release of the minutes from the Fed's Dec. 13-14 policy meeting
On the downside, MCX Crude Oil January futures could slide to Rs 5,940 or even re-test the recent lows at Rs 5,850-level; Natural Gas seems on course to test Rs 290 level.
Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates increase the opportunity cost of holding gold as it pays no interest
Gold had hit record highs of Rs 55,901 in August 2020. The yellow metal had closed at Rs 54,942 per 10 gram in the previous trade
Ten grams of 22-carat gold is selling at Rs 50,450, after a decrease of Rs 150
Lower gas prices are also a relief for the European economy, which is pressured by high inflation rates
The price of ten grams of 24 carat gold in Delhi, Bengaluru, and Chennai is Rs 55,350, Rs 55,250, and Rs 55,960, respectively
On the upside, Gold futures need to break and sustain above Rs 55,230 in order to negate the likely corrective move. Meanwhile, Silver futures seem on course to test Rs 72,000.
Brokerages expect upside on hedging demand amid global slowdown risk
Silver prices rose Rs 1000 from yesterday's close and the precious metal is selling at Rs 71,300 per kg