Gold futures dip over 0.5% after days of gains

Gold prices on Wednesday dipped slightly in futures trade after days of rising demand. On the Multi Commodity Exchange (MCX), gold contracts for February delivery traded lower by over Rs 200, or 0.53 per cent, at Rs Rs 49,080 per 10 gram.

Silver, however, continues to rise with contracts for March delivery trading at Rs 65,827.00, up 0.41%.

SILVER 05MAR2021: Rs 65,827.00 ▲0.41

GOLD 05FEB2021: Rs 49080.00 ▼-0.53

Bullion closing on Tuesday

Gold prices in the national capital jumped on Tuesday gaining Rs 297 to Rs 48,946 per 10 gram, in line with rally in international precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 48,649 per 10 gram.

Silver also gained Rs 1,404 to Rs 65,380 per kg, from Rs 63,976 per kg in the previous trade.

In the international market, both gold and silver were trading in the green at USD 1,858 per ounce and USD 25.39 per ounce, respectively.

"Gold prices gained strength as investors turned cautious over rising coronavirus cases across the world. The revisited pandemic fears raised concerns over economic recovery which boosted buying in bullion prices," said HDFC Securities Senior Analyst (Commodities) Tapan Patel.

Bengaluru: Closing bullion rates on Tuesday Standard gold: [99.5 purity] Rs 49,700 per 10 gram Ornament gold: Rs 4,635 per gram Silverspot: [.999 fineness] Rs 66,400 per kg.

Mumbai: (INCLUSIVE OF OCTROI AND LOCAL CHARGES) SILVER SPOT (IN RS PER kg): 65564.00 STANDARD GOLD (99.5): 49465.00 PURE GOLD (99.9): 49664.00

SILVER SPOT (IN RS PER kg): 65564.00

STANDARD GOLD (99.5): 49465.00

PURE GOLD (99.9): 49664.00

Kolkata: SILVER RDY(BAR) : RS.66,300.00(65,100.00) PER KG SILVER RDY(PORTION): RS.66,400.00(65,200.00) PER KG.

GOLD(24-carat) RDY : RS.50,400.00(50,200.00) PER 10 GRAMS GOLD(22-carat) RDY : RS.47,820.00(47,630.00) PER 10 GRAMS HALLMARKED GOLD(22CT):RS.48,550.00(48,350.00) PER 10 GRAMS

(With PTI inputs)

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