Premiums on gold over official domestic prices in India dipped this week amid faltering demand. Rising prices and strict restrictions to contain the spread of Covid infections have hurt gold demand. Premiums this week eased to about $2 an ounce over official domestic gold prices as compared to last week’s $4, the report said.
Silver and gold rates gained in Indian markets today, lifted by higher global rates. On MCX, February gold futures rose 0.52% to ₹40,560 per 10 gram, extending gains to the third day. Tracking gold, silver also edged higher.
Gold prices fell by Rs. 60 to Rs. 34,530 per 10 grams at the bullion market on Tuesday reported news agency Press Trust of India (PTI).
Gold Silver Reports (GSR) – Gold prices today slipped on muted demand from jewellers and muted trend overseas.
Tracking gold, silver rates also surged Rs 800 to 37,360 per kg on strong demand from industrial units and coin makers. Gold of 99.9% and 99.5% purity advanced Rs 390 each to Rs 31,850 and Rs 31,700 per 10 gram, respectively. Sovereign gold held steady at Rs 24,700 per piece of 8 grams.