Gold futures were last seen trading lower by Rs 29- or 0.06 per cent – at Rs 47,555Gold Price In India: Gold futures traded in the negative territory on Tuesday, August 24, as the yellow metal mirrored global trends. On the Multi Commodity Exchange (MCX), gold futures due for an October 5 delivery, were last seen trading lower by Rs 29 – or 0.06 per cent – at Rs 47,555, compared to their previous close of Rs 47,584. Silver futures due for a September 3 delivery were last up 0.22 per cent at Rs 63,066 against a previous close of Rs 62,927.#Gold and #Silver Opening #Rates for 24/08/2021#IBJApic.twitter.com/kWv5HhaCR4— IBJA (@IBJA1919) August 24, 2021Domestic spot gold opened at Rs 47,646 per 10 grams on Tuesday, and silver at Rs 63,030 per kilogram – both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities:“COMEX gold trades marginally lower near $1805/oz after a 1.3 per cent gain yesterday. Gold steadied as the US dollar index paused after yesterday’s decline. Supporting price is reduced expectations of Fed’s monetary tightening post comments from Dallas Fed President Robert Kaplan, mixed economic data from major economies, tensions relating to Afghanistan and persisting virus concerns.Weighing on price is continuing ETF outflows and recovery in equity markets. Gold’s break above $1800/oz shows positive momentum however gains may be limited if bulls fall in keeping it above $1800/oz.”
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