Gold price drops today

Today Gold Price India: At am, the gold futures contract was down 0. Gold Price In India : Domestic gold futures eased on Tuesday to slip below the Rs 45, per 10 grams mark tracking weakness in global rates amid increasing risk appetite on hopes of easing restrictions in coronavirus-induced lockdowns. MCX gold futures fell by as much as Rs per 10 grams - or 0. At am, the gold futures contract delivery on June 5 was down by Rs per 10 grams - or 0. Gold jewellery prices vary in different parts of India - the second largest consumer of the precious metal - due to factors such as excise duty, state taxes and making charges. Domestic stock markets jumped more than 1 per cent , helped by a rally in Indusind Bank, while overnight gains in Wall Street after some countries eased lockdown restrictions also buoyed sentiment.

Silver Price Drops By 5% As Bank Of America Sees Gold Reaching $3,000

Never miss a great news story! Get instant notifications from Economic Times Allow Not now. The issue price for Series I April 20 to 24, was Rs 4, per gram of gold.

In the international market, silver was quoting 1. Globally, gold eased on Friday as appetite for riskier assets improved after a string of strong corporate earnings. Spot gold markets remained shut due to the lockdown to prevent the spread of coronavirus, according to HDFC Securities.

Spot gold gained 0. This is the minimum amount which is required to buy "x" number of lots of a particular commodity to trade in futures market. Mentha Oil. Natural Gas Crude Oil.

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Expert Views. Technicals Technical Chart Visualize Screener. Forex Forex News Currency Converter. Views News. Market Watch. Add to Wishlist Set Alerts. Close Day's Trend. Day: Silver Micro Gold M Gold Precious metals: Silver, gold futures rise on spot demand News 9 May, , Gold prices hold steady on more stimulus hopes post US jobs data News 9 May, , Gold prices ease but still above Rs 46, News 9 May, , Gold eases on firmer equities, focus on US jobs data News 9 May, , Gold gains as US jobs data adds to slowdown fears News 9 May, , Gold price gains as poor macro data hit risk sentiments News 9 May, , Gold rises on poor economic data, US jobless claims report in focus News 9 May, , Today's Volume : Change : 8.

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Yet, in today's prices, they've since lost 15% since that all-time zenith. Gold's most pronounced price fall in the past decade happened between. While this indicates a steep contraction, the figure is better than the expected drop to Employment sunk dramatically to , while new orders fell to

Retention of value, millennia-long history, scarcity, etc. A permanent bull market for gold is impossible. If the price of gold had risen consistently and measurably in value since the days of Tutankhamen, its price would now be infinite. The supply of gold is largely static from one period to the next.

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Latest figures for Chinese gold imports for September show another poor month - below those for August, but the likely Chinese shortfall is being counterbalanced by increases in the holdings of gold ETFs and a continued high level of central bank gold Latest Swiss gold import and export figures confirm huge change in trend away from Asia, but fall-off in Asian demand counterbalanced by big pickup in gold ETF holdings.

When and Why Do Gold Prices Plummet?

Domestic gold prices have seen a steep fall over the past one week In global markets too gold rates have tumbled amid flight to cash. Gold prices continued to decline in domestic markets, extending their recent fall. Gold is typically viewed as a safe harbour in times of turmoil in global financial markets. But the recent sharp fall in gold prices has been attributed to flight for cash amid heightened volatility across markets over the coronavirus scare. In global markets, gold prices also fell sharply, extending their recent loss as investors rushed to raise cash amid heightened panic in financial markets over the coronavirus pandemic.

Gold News Headlines

Sentiment was weak in the commodities market following the rout in the energy market that started yesterday. Agricultural commodities like corn, soybeans, and wheat declined as well. Perhaps, investors are moving from commodities, which are now being viewed as being relatively risky. Another thing at play is that industrial production in most countries is declining. As demand declines, the price of copper falls because unlike gold, silver is more of an industrial metal. Just last week, data from the US showed that industrial production in March declined to the lowest level since s. Another data showed that retail sales in the US dropped by 8. A combination of weak industrial production and weak retail sales is disastrous for silver. Worse, other important markets for the metal like India and Europe are going through worse.

Gold was extracted in Egypt as early as B.

Gold prices, in U. The bankruptcy levels are increasing.

Gold prices fall as traders continue to book profits

Five ways to invest in gold. Gold prices ease on firmer equities. Gold rate eases on profit booking. All rights reserved. For reprint rights: Times Syndication Service. Markets Data. Market Moguls. Expert Views. Technicals Technical Chart Visualize Screener. Forex Forex News Currency Converter. Views News.

Gold prices in India have seen a big fall after hitting a record high last week Silver rates however edged higher today. Gold prices fell today in Indian markets today, tracking a decline in global rates. On MCX, June gold futures fell 0. Silver however edged higher on MCX with May futures edging 0. In global markets, gold prices dropped today to over one-week low amid a firm dollar. Investors also remained hopeful that economies will reopen from lockdowns. Spot gold rates fell 0. Among other precious metals, platinum fell 0. The dollar strengthened 0. Asian equity markets remained in consolidation mode after seeing a strong rally in the past few sessions.