Thu. Jul 7th, 2022

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Gold prices edged 0.15% higher

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Gold

Gold and silver prices were mixed today as optimism around COVID-19 vaccines roll-outs offset hopes of a US stimulus package being passed this week. Gold prices edged 0.15% higher to ₹49271 per 10 gram while silver rates fell 0.2% to ₹63684 per kg. In the previous session, gold futures had declined 0.2% to ₹49,209 per 10 gram while silver edged 0.3% higher. However, for the week, gold had logged gains of about ₹1,200 per 10 gram.

In international markets, spot gold today remained flat at $1,837 per ounce. Britain is set to become the first country to roll out the Pfizer/BioNTech COVID-19 vaccine this week.

However, for the week, gold had logged gains of about ₹1,200 per 10 gram.

Gold traders will be looking forward to outcome of European Central Bank policy decision later this week.

The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund or gold ETF, fell 0.6% to 1,182.70 tonnes on Friday.

Silver however remains supported by general optimism about Chinese economy and recovery in industrial activity across major economies.

 

 

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