A rush to safe-haven assets earlier this week due to the Ukraine crisis powered gold prices to near record levels hit in August 2020.
Key equity indices rebounded as investors picked up beaten-down stocks following a recent rout sparked by fears about growing Western sanctions on Russia for its invasion of Ukraine
The price of ten grams of 24-carat gold remained unchanged on Wednesday at Rs 53,890
Inflationary fears as well as Russia-Ukraine conflict pushed gold prices to Rs 55,000 per 10-gram on Tuesday.
International oil benchmark Brent crude, which briefly hit more than $139 a barrel in the previous session, was up about 2.6% at $126.42.
The rate of gold jewellery varies across the nation due to excise duty, state taxes, and making charges.
Russia produces about 6 per cent of the world's aluminium, 10 per cent of global mined nickel and 3.5 per cent of world copper supply
Gold in the national capital on Monday rallied by Rs 1,298 to Rs 53,784 per 10 gram in line with strong international precious metal prices and sharp rupee depreciation, according to HDFC Securities.
Inflationary fears triggered a rush for safe haven investments during the ongoing market volatility that pushed up the global gold price to $2,000 per ounce on Monday
Palladium jumped to a record high on Monday, while gold hit the key level of $2,000 per ounce, as concerns over Russia-Ukraine conflict pushed investors towards safe-haven assets.
The price of ten grams of 24-carat gold on Monday remained unchanged with the metal trading at Rs 52,800
Rush for safe haven investments during the ongoing market volatility triggered by Russian-Ukrainian conflict is expected to push global gold prices higher
Spot palladium, used by automakers in catalytic converters to curb emissions, jumped 4.1% to $2,778.48 by 1030 GMT, rising for a fourth session to hit its highest since mid-June 2021
The rupee declined 49 paise to 75.82 against the US dollar in opening trade on Wednesday amid a weak risk appetite as tensions escalated in Eastern Europe
Used by automakers for catalytic converters to curb emissions, palladium rose 3.6% to $2,577.38 by 1043 GMT
Gold has been the best-performing asset class this year. Real estate prices are also rising. So, should you invest in these asset classes? Watch our next report to know what analysts are advising
Brent crude rose $ 2.79, or 2.85 per cent, to $100.72 by 9.12 pm IST after touching a high of $105.07 a barrel in early trade
Spot gold climbed 1.1% to $1,909.16 per ounce, rising about 6% so far this month in what would be its best monthly gain since May 2021
Spot gold XAU= rose 0.7% to $1,916.10 per ounce by 0645 GMT, after hitting its highest since September 2020 at $1,973.96 on Thursday
Spot gold jumped as much as 3.4 per cent to $1,974.34 an ounce