Gold has a special appeal for smugglers because it has a high value despite a low volume
The festival of Dhanteras will be celebrated on October 25. Gold prices saw an uptick on the back of festive demand.
In the futures market, gold rate touched an intraday high of Rs 38,115 and an intraday low of Rs 37,999 on MCX.
According to Angel Commodities, On Wednesday, spot gold prices increased by 0.28 percent to close at $1491.9 per ounce.
In the futures market, gold rate touched an intraday high of Rs 38,099 and an intraday low of Rs 37,944 on MCX.
Sovereign Gold Bonds offer a better alternative to physical gold with tax-free interest and carry no purity risk
Gold futures for delivery in December gained by Rs 5, or 0.01 percent on the MCX trading at Rs 37,895 per 10 gram in evening trade in a business turnover of 18,839 lots.
According to Angel Commodities, On Monday, spot gold prices declined by 0.4 percent to close at $1484.3 per ounce on improved appetite for riskier assets, while investors awaited further clarity from the U.S. Federal Reserve on more possible interest rate cuts this year.
Sales are likely to gain momentum on Dhanteras and the upcoming wedding season in November.
In the coming week, investors’ focus would be on earnings season, the outcome of Legislative Assembly elections in Haryana and Maharashtra, and trade deal
Gold is range bound as market players have turned cautious awaiting more clarity on major issues
In the futures market, gold's rate touched an intraday high of Rs 38,194 and an intraday low of Rs 37,965 on MCX.
The gold/silver ratio,which is the amount of silver needed to buy one ounce of gold, currently stands at 84.81 to 1.
According to Angel Commodities, on the MCX, gold prices are expected to trade higher today; international markets are trading lower by 0.15 percent to close at 1491.75 per ounce.
The rate of 10 grams 22-carat gold in Mumbai was at Rs 35,114 plus 3 percent GST, while 24-carat 10 gram was Rs 38,334 plus GST.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 42 points gain or 0.37 percent.
The industry's only hope is in falling prices, which had scaled a record of Rs 4,000 a gram last month, to get better footfalls.
In the futures market, gold rate touched an intraday high of Rs 38,425 and an intraday low of Rs 38,126 on MCX.
In the futures market, gold rate touched an intraday high of Rs 38,280 and an intraday low of Rs 37,771 on MCX.
According to Angel Commodities, last week, spot gold prices ended lower by 0.6 percent. Prices dipped after the trade tension between U.S. & China eased down as the trade negotiations were going very well which boosted the risk appetite amongst investors and dented the appeal for the safe haven asset, Gold.
Experts are of the opinion that although ongoing geopolitical issues between US and China gave way to slightly higher silver prices, they also caused a downturn in China’s economy, which had a negative effect on the white metal
The gold/silver ratio currently stands at 83.84 to 1 which means the amount of silver requires to buy one ounce of gold.
Gold is likely to trade in the range of 37,800-38,500 and silver may trade in a price range of 44,800-46,000 in Friday's session, experts suggest.
This comes on the back of a net infusion of Rs 145 crore in gold exchange-traded funds (ETFs) in August.
Any dips in silver towards Rs 45,700/kg will be an opportunity to buy again with a stop loss of Rs 45,400, says IndiaNivesh Commodities’ Manoj Kumar Jain.