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Commodity Summary
MCX
NEW DELHI: Gold and silver futures prices in the domestic market saw profit booking on Friday amid increasing hopes of economic stimulus from the US government.
US Congressional Republicans and Democrats scrambled to pass a new round of coronavirus aid on Thursday with lawmakers from both parties saying that failure to agree was no longer an option.
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 down 0.20 per cent or Rs 102 at Rs 50,288 per 10 grams. Silver futures added 0.57 per cent or Rs 390 to Rs 67,877 per kg.
In the spot market, gold prices rose Rs 194 to Rs 49,455 per 10 gram in the national capital on Thursday, tracking firm overseas trend, according to HDFC Securities. Silver prices also gained Rs 1,184 to Rs 66,969 per kilogram.
Globally, gold eased on Friday, but was on track to post its third consecutive weekly gain on growing expectations for additional stimulus measures in the United States.
Spot gold fell 0.2 per cent to $1,881.65 per ounce by 0107 GMT, but was up 2.3 per cent so far this week. US gold futures dipped 0.1 per cent to $1,887.90.
Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.2 per cent to 1,167.82 tonnes on Thursday.
Silver slipped 1 per cent to $25.79 per ounce. Platinum dropped 0.8 per cent to $1,035.91 and palladium fell 0.2 per cent to $2,335.04.
US Congressional Republicans and Democrats scrambled to pass a new round of coronavirus aid on Thursday with lawmakers from both parties saying that failure to agree was no longer an option.
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 down 0.20 per cent or Rs 102 at Rs 50,288 per 10 grams. Silver futures added 0.57 per cent or Rs 390 to Rs 67,877 per kg.
In the spot market, gold prices rose Rs 194 to Rs 49,455 per 10 gram in the national capital on Thursday, tracking firm overseas trend, according to HDFC Securities. Silver prices also gained Rs 1,184 to Rs 66,969 per kilogram.
Globally, gold eased on Friday, but was on track to post its third consecutive weekly gain on growing expectations for additional stimulus measures in the United States.
Spot gold fell 0.2 per cent to $1,881.65 per ounce by 0107 GMT, but was up 2.3 per cent so far this week. US gold futures dipped 0.1 per cent to $1,887.90.
Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.2 per cent to 1,167.82 tonnes on Thursday.
Silver slipped 1 per cent to $25.79 per ounce. Platinum dropped 0.8 per cent to $1,035.91 and palladium fell 0.2 per cent to $2,335.04.
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