Today Gold Price India: At 10:08 am, the gold futures contract was down 0.75% at Rs 45,843
Gold Price In India: Domestic gold futures eased on Tuesday to slip below the Rs 45,800 per 10 grams mark tracking weakness in global peers amid increasing risk appetite on hopes of easing restrictions in coronavirus-induced lockdowns. MCX gold futures fell by as much as Rs 407 per 10 grams - or 0.88 per cent - to Rs 45,784 per 10 grams, compared to their previous close of Rs 46,191 per 10 grams. At 10:08 am, the gold futures contract (delivery on June 5) was down by Rs 348 per 10 grams - or 0.75 per cent - at Rs 45,843 per 10 grams. (Track Gold Prices In India Here)
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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.
In the international market, gold prices fell as risk appetite was boosted by plans of some countries to ease coronavirus curbs in a phased manner, but prices held above the key $1,700 per ounce level amid hopes for more stimulus to cushion the fallout from the pandemic.
Spot gold was last seen trading 0.7 per cent lower at $1,702.09 per ounce.
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. The S&P BSE Sensex index jumped as much as 1.33 per cent - or 421.57 points - to 32,164.65, having started the session up 358.83 points at 32,101.91. The broader NSE Nifty 50 benchmark climbed to as high as 9,402.55 after starting the session at 9,389.80, compared with its previous close of 9,282.30.
Last month, commodity exchanges cut down trading hours, in a shift from the practice of allowing trading till midnight, in the wake of coronavirus pandemic. The trading now begins at 9 am and ends at 5 pm, instead of 11:50 pm earlier.
Gold Price: What Analysts Say On Current Gold Rate
“Gold came under pressure amid gains in equity market on back of improving coronavirus-related situation and countries working on lifting restrictions. ETF (exchange traded fund) inflows have taken a pause. US dollar index has corrected from the highs which might support the yellow metal,” said Ravindra Rao, VP-head commodity research at Kotak Securities.
"Monetary easing by central banks might lend a support. Gold may might remain subdued as the traders might wait for direction from the Federal Reserve and the European Central Bank (ECB) meeting later this week,” he added.
