Gold prices remained weak for the third day, down ₹9000 from record high, Check details here
Gold prices remained weak for the third day in Indian markets today in tandem with softer global rates. On MCX, gold futures were up 0.17% to ₹47,398 per 10 gram while silver futures gained 1% to ₹69,900 per kg. In the previous two sessions, gold had lost about ₹800 per 10 gram. In global markets, gold eased today after a jump in US Treasury yields, which hit nearly 11-month high. Gold fell 0.2% to $1,820 an ounce. Higher bond yields increases the opportunity cost of holding non-yielding assets like gold.
MCX gold faces resistance at ₹48,060 per 10 gram while has support at ₹46,220 levels.
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Compare 22K & 24K Gold Rate In Jammu And Kashmir (Today & Yesterday)
| Today | Yesterday | Rate Change | |
| Standard Gold (22 K) ( 1 gram ) | ₹ 4,563 | ₹ 4,563 | ₹ 0 ↑ |
| Standard Gold (22 K) ( 8 grams ) | ₹ 36,504 | ₹ 36,504 | ₹ 0 ↑ |
| Pure Gold (24 K) ( 1 gram ) | ₹ 4,791 | ₹ 4,791 | ₹ 0 ↑ |
| Pure Gold (24 K) ( 8 grams ) | ₹ 38,328 | ₹ 38,328 | ₹ 0 ↑ |
Global markets
- Gold eased on Monday. Spot gold fell 0.1 per cent to $1,821.84 per ounce by 0041 GMT. US gold futures slipped 0.1 per cent to $1,822.30.
- Platinum rose 1.1 per cent to $1,265.89, after hitting its highest since January 2015 at $1,269.30. The metal is rising on expectations of a supply shortfall.
- Silver gained 0.4 per cent to $27.46 an ounce and palladium climbed 0.1 per cent to $2,389.67.
Silver may trade with higher volatility where it may find support near ₹68,790 and facing resistance near ₹69700, SMC Global said in a note.
Back in India, physical gold demand eased last week, Reuters reported citing dealers, with buyers put off by volatility in prices. Dealers charged premiums of about $5 an ounce over official domestic prices versus previous week’s $6 premium, a six-month peak.