Gold Silver Futures Prices Slip up to 1.5% | Gold Silver Reports

Gold silver futures prices slip on Tuesday, even as analysts believe the recent risk-off sentiment may revive safe-haven bets for bullion. Analysts said the upcoming announcement of further stimulus measures by the newly elected US government may support gold, as a perfect hedge against possible inflation.

Gold Silver Futures Prices

Gold futures for April delivery declined Rs 259 or 0.57 per cent to Rs 45,049 per 10 grams on MCX. Silver futures for May delivery plummeted by Rs 1,050 or 1.53 per cent to Rs 67,750 per 1 kg.

Gold Rates – Spot & Futures (.995 purity)(MCX)

DateGold Spot Price
Rs/10 Grms (AHMEDABAD)
Gold Future Price
Rs/10 Grms Expiry: 05-Apr-2021
02-03-20214582645108
19-02-20214595446195
17-02-2021046219
12-02-20214719347525
05-02-2021047260

Globally, spot gold was up 0.2 per cent at $1,726.84 per ounce while US gold futures added 0.1 per cent to $1,723.80, thanks to a retreat in US treasury yields and optimism over the $1.9 trillion coronavirus relief bill, which lifted the allure of the non-yielding metal.

Data showed holdings of the world’s largest gold-backed exchange-traded fund — the SPDR Gold Trust — fell 0.8 per cent to 1,084.5 tonnes on Monday.

While gold is considered a shield against inflation, higher bond yields have of late threatened that status, since they translate into a higher opportunity cost of holding bullion, which pays no return.

The near-term trigger for gold prices would be this week’s debate in the US senate over US President Joe Biden’s coronavirus relief bill this week.

Gold Silver Futures Prices Slip up to 1.5% | Gold Silver Reports via @goldsilverrepor
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