INSUBCONTINENT EXCLUSIVE:
Current Gold Price In India: MCX gold futures were rangebound at Rs 47,731-48,019/10 grams on TuesdayGold Rate In India: Domestic gold
futures barely moved on Tuesday despite easing global rates as equity markets continued their rally for a fourth straight day
MCX gold futures moved in a range of Rs 47,731-48,019 per 10 grams before turning flat in evening trade, compared to their previous close of
At 5:24 pm, the gold futures contract - for delivery on August 5 - was down 0.06 per cent (or Rs 31 per 10 grams) at Rs 47,913 per 10
grams. (Track Gold Rate In India Here)According to the India Bullion and Jewellers Association (IBJA), a Mumbai-based industry body, the
closing rate of gold jewellery stood at Rs 48,120 per 10 grams, and silver at Rs 48,440 per kilogram - both excluding Goods and Services Tax
(GST).Gold jewellery prices vary in different parts of India - the second largest consumer of the precious metal - due to factors such as
excise duty, state taxes and making charges. In the international market, gold prices eased on Tuesday on expectations of positive
manufacturing data from the euro zone, but concerns over a second coronavirus wave kept the safe-haven metal near its highest level in more
than a month.Spot gold was last seen trading 0.3 per cent lower at at $1,749.80, a day after it climbed to $1,762.84 an ounce - its highest
since May 18.Domestic stock markets continued to rise for a fourth straight session on Tuesday, propelled by gains across sectors and
The NSE Nifty 50 index rose 159.80 points - or 1.55 per cent - to end at 10,471.00, its highest since March 11.In March, commodity exchanges
cut down trading hours, in a shift from the practice of allowing trading till midnight, in the wake of coronavirus pandemic. The trading
now begins at 9 am and ends at 5 pm, instead of 11:50 pm earlier.“COMEX gold trades marginally higher near $1767/oz after a 0.8 per cent
Safe-haven buying amid rising virus cases, US-China tensions, geopolitical issues relating to Hong Kong and mixed economic data from major
economies supported gold prices,” said Ravindra Rao, VP-head commodity research at Kotak Securities."Gold may continue to witness a
sideways to positive trade as market players assess coronavirus risk however general bias may be on the upside amid increasing challenges to
global economy and continuing stimulus measures,” he added.
