Gold Rate Today: Gold lacklustre on muted spot demand
Gold prices hovered near 10-month highs in global markets.
NEW DELHI: Gold traded lacklustre in Tuesday's session on muted demand from local jewellers even as global cues remained firm.
Gold prices hovered near 10-month highs in global markets after dollar eased against its global peers. A weak dollar means gold will appreciate as the commodity becomes cheaper in other currencies, giving rise to its demand.
Gold prices have gained 3.3 per cent so far this year on hopes that the world's two largest economies will hammer out a trade deal and on expectations the Fed will pause its cycle of interest rate hikes, Reuters reported.
Silver, however, traded with tepid gains. The MCX Gold was trading at Rs 33,594 per 10 grams, lower by Rs 14, while MCX Silver was trading Rs 21 higher at Rs 40191 a kilo around 10:25 am.
Gold prices hovered near 10-month highs in global markets after dollar eased against its global peers. A weak dollar means gold will appreciate as the commodity becomes cheaper in other currencies, giving rise to its demand.
Gold prices have gained 3.3 per cent so far this year on hopes that the world's two largest economies will hammer out a trade deal and on expectations the Fed will pause its cycle of interest rate hikes, Reuters reported.
Silver, however, traded with tepid gains. The MCX Gold was trading at Rs 33,594 per 10 grams, lower by Rs 14, while MCX Silver was trading Rs 21 higher at Rs 40191 a kilo around 10:25 am.
