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.
In the domestic market, gold price is trading at Rs 6,074 per gram for 22 karat gold and Rs 6,626 per gram for 24 karat gold.
Spot Gold Price
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.”
On the other hand, Silver advanced 0.1 per cent to $24.45. Spot platinum fell 0.3 per cent to $930.00 per ounce, palladium edged 0.1 per cent lower to $1,029.38.
-With inputs from Reuters
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First uploaded on: 12-03-2024 at 11:54 IST
