MCX Gold Futures prices on January 27 rose by Rs 220 to Rs 40,530 per 10 gram in futures trade as speculators widened their bets in line with positive overseas trend.
Gold News Today – Bullion Industry Expects Reduction in Import Duty on Gold
Precious Metal was on Track to Post a Weekly Gain
Precious Metal – Spot gold fell 0.2 per cent to $1,560.50 per ounce by 0131 GMT. For the week, prices were on track to gain 0.3 per cent. US gold futures slipped 0.4 per cent to $1,559.20.
MCX Gold Price Steady at Rs 40,080 per 10 gram, Silver Slip
MCX Gold prices declined by Rs 213 to Rs 40,080 per 10 gram in the Mumbai bullion market on rupee depreciation. It, however, traded steady in the international market ahead of European Central Bank’s first policy meet of the New Year later today.
Gold Price Outlook – Rates Consolidate as Corona-virus Breaks Out
Gold prices edged higher but were buoyed as riskier assets sold off following news of a new virus hitting China (Coronavirus) . The last time the world saw this kind of virus in Asia, known as SARS, gold prices rallied more than 27% over the next 12-months from March 2003 to March 2004.