Category: Gold News
Gold, Silver Price Today: Price of yellow metal falls below 66,000 | Business News
Gold prices on MCX futures fell marginally by 0.16 per cent. Prices of Yellow metal for April delivery stands at 65, 931.00 for 10 grams. Silver prices, on the other hand, gained 0.02 per cent at 74,526.00 per kg.
Gold prices slipped from near record-high levels on Tuesday, as traders braced for key US inflation report. US gold futures also dipped 0.2 per cent to $2,185.00.
“Following the stellar run-up in gold prices, it does call for some near-term breather,” IG market strategist Yeap Jun Rong said to Reuters.
“Progress in U.S. inflation has somewhat stalled in the January’s read, but follow-up comments from policymakers seem to suggest that they are willing to look beyond it as a one-off. Another surprise run of hotter-than-expected inflation data for February will likely challenge that, which could drive some near-term unwinding in gold prices.”
-With inputs from Reuters
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First uploaded on: 12-03-2024 at 11:54 IST
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