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 rose by Rs 200 from yesterday's to Rs 51,300
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
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
Silver prices rose Rs 1000 from yesterday's close and the precious metal is selling at Rs 71,300 per kg
Gold prices rose by Rs 205 to Rs 55,210 per 10 grams in the national capital on Friday amid positive global trends, according to HDFC Securities. The precious metal had touched Rs 55,005 per 10 grams in the previous trade. Silver, however, declined by Rs 30 to Rs 69,698 per kg. "COMEX gold heads for a second weekly gain after US job data eased concern that a hot labour market would lead to hawkish Fed," an analyst at HDFC Securities said. In the overseas market, gold was trading in green at USD 1,817.4 per ounce while silver was marginally down at USD 23.83 per ounce. "Gold edged higher, helped by a dip in the dollar as initial unemployment claim data pointed to a cooling off in the US labour market, easing worries about harsher Federal Reserve rate hikes next year," Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services, said.
Ten gram of 22-carat gold is selling at Rs 50,050
Ten gram of 22-carat gold is selling at Rs 50,150
Ten gram of 22-carat gold was selling at Rs 49,950
Ten gram of 22-carat gold is selling at Rs 49,950
Ten gram of 22-carat gold was selling at Rs 49,850
Ten gram of 22-carat gold was selling at Rs 49,700 after the price fell by Rs 550 from yesterday's close
Gold prices hemmed into a tight range in thin trading, as cautious traders awaited economic data due later in the day to gauge the Federal Reserve's rate hike stance
Ten gram of 22-carat gold was trading at Rs 50,100 today
Silver is selling at Rs 69,300 per kg
Ten gram of 22-carat gold is selling at Rs 49,600 after the prices remain unchanged from previous day, according to the GoodReturns website
Ten gram of 22- carat gold is selling at Rs 49,950 after the prices remain unchanged from the previous day