Gold prices steady amid trade tensions and rise in rupee

On Tuesday, gold prices held steady amid trade tensions and rise in rupee. The yellow metals rates were steady ahead of a policy meeting by the US central bank, while investors awaited clarity on whether a next round of US tariffs on Chinese imports will take effect this weekend.

According to Money Control, on the Multi Commodity Exchange, Gold contracts for February traded lower by Rs 14, or 0.04 percent, at Rs 37,569 per 10 gram at 0920 hours IST.

As per Reuters, Spot gold was down 0.1 per cent to $1,461.05 per ounce by 0156 GMT. US gold futures was flat at $1,465.40. Palladium was unchanged at $1,881.34 an ounce. The supply-squeezed autocatalyst metal climbed to an all-time high of $1,898.50 in the previous session.

On Monday, Gold prices fell by Rs 32 to Rs 38,542 per 10 gram in the national capital on Monday due to rupee appreciation and selling in global market. On Saturday, the precious metal had closed at Rs 38,574 per 10 gram. However, silver prices rose Rs 46 to Rs 44,691 per kg from Rs 44,645 per kg in the previous trade.

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