Gold Prices Today Fall a Day After Jumping to Nearly 4-Month High, Silver Dips

Gold Prices Today: Gold and silver prices today edged lower in Indian markets amid decline in global rates. On MCX, gold futures were down 0.22% to ₹48,444 per 10 gram while silver rates fell 0.46% to ₹71,480 per kg.

In the previous session, gold had edged 0.26% higher to close near 4-month high while silver had surged over 1%.

  • In global markets, gold rates slipped today as improved risk appetite pushed equity markets higher

In global markets, gold rates slipped today as improved risk appetite pushed global equity markets higher. A subdued dollar and bond yields however limited the precious metal’s decline.

Spot Gold Prices Today Fall a Day

Spot gold slid 0.3% to $1,876.24 per ounce. Among other precious metals, silver fell 0.7% at $27.60 per ounce, while platinum was steady at $1,174.

Global equity markets were buoyed after Federal Reserve officials tried to soothe concerns about inflation. Top officials said price gains should prove temporary even as supply shortages push prices up in coming months as the pandemic recedes and pent-up demand was unleashed.

Analysts say gold faces resistance at $1,900 level.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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