Homemarket Newscommodities News

    Gold price today: Yellow metal falls, white metal 0.4% away from lifetime low

    Gold price today: Yellow metal falls, white metal 0.4% away from lifetime low

    Gold price today: Yellow metal falls, white metal 0.4% away from lifetime low
    Read Time
    2 Min(s) Read
    Profile image

    By Asmita Pant   IST (Published)

    Mini

    MCX gold October futures fell 0.8 percent to touch the intraday low of Rs 50,855 per 10 grams. White metal future, also fell 0.8 percent to Rs 53,900 per kilogram, half a percent away from lifetime low of Rs 53,644. 

    Domestic gold prices extended losses on Tuesday amid gains in domestic equities. Global gold benchmarks slipped amid strength in dollar.
    MCX gold October futures fell 0.8 percent to touch the intraday low of Rs 50,855 per 10 grams. White metal future, also fell 0.8 percent to Rs 53,900 per kilogram, half a percent away from lifetime low of Rs 53,644. 
    Manoj Kumar Jain, Head-Commodity and Currency Research at Prithvi Finmart, expects both precious metals to remain volatile in Tuesday’s  session ahead of the US consumer confidence and JOLTS job openings data.
    Jain suggests buying gold on dips around Rs 51,100 for a target of Rs 51,500 with a stop loss at Rs 50,880.
    Indian equity benchmarks traded in green on Tuesday. Sensex jumped 1,200 points and Nifty50 traded above 17,600 on the last count. The rupee edged higher to 79.92 against the US dollar, a day after hitting a record low of 80.08 in the previous session.
    Crude oil prices fell on Tuesday as global inflation worries took the centre stage pushing away fears of possible output cut by Organization of the Petroleum Exporting Countries (OPEC) and its allies. Fed Chair Jerome Powell's speech in the annual Jackson Hole symposium signalled that interest rates would be kept higher for longer to bring down inflation.
    Brent crude futures fell 4.5 percent to $98.3 a barrel. West Texas Intermediate (WTI) futures followed suit, and fell 0.5 percent to $96.5.
    The dollar index — which gauges the strength in the greenback against six peers — rose almost 0.1 percent to 108.9.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng