Spot gold has been under tremendous selling pressure due to surging real yields and strong US Dollar.
A break below $4,100 would expose further downside toward the $3,960 to $4,000 zone. Until that turn materialises, near-term price action is likely to remain driven by the rate market.
Comex gold futures were trading $16.50 higher at $4,157.20 an ounce, while silver futures rose $0.08 to $60.37 after opening at $60.19
Gold prices fell for the second straight session, declining Rs 700 to Rs 1.48 lakh per 10 grams in the national capital on Wednesday, as subdued local demand and weak global trend weighed on the precious metal. The yellow metal of 99.9 per cent purity fell to a one-week low, depreciating Rs 700 to Rs 1,48,900 per 10 grams, inclusive of all taxes, from Tuesday's closing level of Rs 1,49,600, according to local traders. It was quoted at Rs 1,48,600 per 10 grams on September 29. "Gold prices declined in the domestic market on Wednesday amid weak global cues and subdued retail demand," said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities. A rebound in crude oil amid renewed concerns over supply disruptions triggered by West Asia tensions also added to the dip in the precious metal prices, he added. However, depreciation in the rupee kept a lid on the precious metal's upside, analysts said. The rupee slumped 43 paise to close at 96.78 (provisional) against the US dollar
In the global market, gold futures on Comex were trading near $4,165 per ounce, while silver was trading near $60 per ounce
In the global market, gold futures on Comex were trading near $4,150 per ounce, while silver was trading near $61 per ounce
Gold falls, central banks keep buying: What should investors do now?
On the MCX, the benchmark December gold contract opened ₹807 higher at ₹1,51,197 per 10 gram
In the global market, gold futures on Comex were trading near $4,200 per ounce, while silver was trading near $61.40 per ounce
Gold and silver futures opened higher on MCX and Comex as easing crude oil prices and shifting US rate expectations provided some support to bullion
Preserve old valuation and inheritance records; document family lockers and explain the source of each holding
In the global market, gold futures on Comex were trading near $4,160 per ounce, while silver slipped to around $61 per ounce
In the global market, gold futures on Comex fell to around $4,230 per ounce, touching a seven-week low, while silver slipped below $62.50 per ounce
Praveen Singh of Mirae Asset Sharekhan said that Hormuz optimism can keep gold supported in the very short term. Upside is likely to be limited to $4330 unless more clarity emerges on US-Iran talks.
Is demand falling or imports going unofficial?
In the global market, gold futures on Comex were trading near $4,310 per ounce, while silver was trading near $64.35 per ounce
Silver futures opened higher on Wednesday, September 23, while gold traded with modest losses in the domestic market
In the global market, gold futures on Comex were trading at around $4,385 per ounce, while silver was trading near $66.60 per ounce
In the global market, gold futures on Comex were trading near $4,400 per ounce, while silver was trading near $66.70 per ounce
BIS has raised the hallmarking fee for gold articles to Rs 75 from Rs 45. Here is what the change means for jewellery buyers