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MCX
NEW DELHI: Gold and silver futures prices in the domestic market were mixed on Tuesday as stimulus talks gathered momentum lifting demand for gold while vaccine approvals kept the price rise in check.
US Senate Democratic leader Chuck Schumer said there were signs of progress in talks on a bipartisan bill. Meanwhile, Japanese government said it was preparing a new economic stimulus package totalling $708 billion with fiscal measures at $385 billion.
Gold tends to benefit from stimulus measures as it raises the prospect of inflation which bullion is used to hedge against.
Gold futures on MCX were up 0.29 per cent or Rs 144 at Rs 50,090 per 10 grams. Silver futures dipped 0.14 per cent or Rs 92 to Rs 65,704 per kg.
In the spot market, Gold prices declined Rs 104 to Rs 48,703 per 10 gram in the national capital on Monday in line with weak global prices of the precious metal, according to HDFC Securities. Silver also dipped Rs 736 to Rs 62,621 per kg.
Globally, gold prices held steady near a two-week high on Tuesday as mounting Covid-19 cases and fresh restrictions boosted hopes for a U.S. pandemic stimulus package.
Spot gold was little changed at $1,863.30 per ounce by 0058 GMT, having jumped as much as 1.7 per cent to $1,868.25 on Monday. U.S. gold futures rose 0.1 per cent to $1,867.70.
SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.25 per cent to 1,179.78 tonnes on Monday from 1,182.70 tonnes on Friday.
Silver was steady at $24.51 per ounce and palladium was little changed at $2,330.71, while platinum rose 0.4 per cent to $1,025.00.
US Senate Democratic leader Chuck Schumer said there were signs of progress in talks on a bipartisan bill. Meanwhile, Japanese government said it was preparing a new economic stimulus package totalling $708 billion with fiscal measures at $385 billion.
Gold tends to benefit from stimulus measures as it raises the prospect of inflation which bullion is used to hedge against.
Gold futures on MCX were up 0.29 per cent or Rs 144 at Rs 50,090 per 10 grams. Silver futures dipped 0.14 per cent or Rs 92 to Rs 65,704 per kg.
In the spot market, Gold prices declined Rs 104 to Rs 48,703 per 10 gram in the national capital on Monday in line with weak global prices of the precious metal, according to HDFC Securities. Silver also dipped Rs 736 to Rs 62,621 per kg.
Globally, gold prices held steady near a two-week high on Tuesday as mounting Covid-19 cases and fresh restrictions boosted hopes for a U.S. pandemic stimulus package.
Spot gold was little changed at $1,863.30 per ounce by 0058 GMT, having jumped as much as 1.7 per cent to $1,868.25 on Monday. U.S. gold futures rose 0.1 per cent to $1,867.70.
SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.25 per cent to 1,179.78 tonnes on Monday from 1,182.70 tonnes on Friday.
Silver was steady at $24.51 per ounce and palladium was little changed at $2,330.71, while platinum rose 0.4 per cent to $1,025.00.
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