Wed. Nov 30th, 2022

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Gold prices slide again

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Gold bars

Gold prices fell in markets today as equity markets rallied across the world amid covid vaccine optimism. On MCX, February gold futures fell 0.6% to ₹49815 per 10 gram while silver tumbled 1.2% to ₹64,404 per kg. Weighing on gold price is progress on vaccine front and weaker investor interest, say analysts. In the previous session, gold had ended 0.2% higher while silver had dipped 0.6%.

In international markets, gold prices eased today as encouraging vaccine developments pushed investors towards riskier equities. But hopes of more US stimulus kept gold supported at lower levels. Spot gold fell 0.3% to $1,865.46 per ounce.

Among other precious metals, silver slipped 0.7% to $24.38 an ounce, while platinum rose 0.6% to $1,028.17 and palladium was up 0.1% to $2,311.87.

Gold traders will be eyeing progress in post-Brexit trade deal talks. British Prime Minister Boris Johnson is due to hold crunch talks with EU chief Ursula von der Leyen.

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