New Delhi | Jagran News Desk: Gold and silver prices on Wednesday edged higher amid a muted trend in the global market. The yellow metal witnessed a marginal gain of Rs 3 to Rs 50,114 per 10 gram amid choppy global prices. In the previous session, the precious metal had closed at Rs 50,111 per 10 gram. Siver prices also rose Rs 451 to Rs 62,023 per kilogram from Rs 61,572 per kilogram in the previous trade. 

Meanwhile, Gold futures on Wednesday fell by 0.31 percent to Rs 50,344 per 10 gram as participants offloaded their holdings on low spot demand. On the Multi Commodity Exchange, gold prices for December delivery declined by Rs 157, or 0.31 percent, to Rs 50,344 per 10 gram in a business turnover of 10,587 lots.

In the global market, Gold held steady on Wednesday, as concerns over the global roll-out of a potential COVID-19 vaccine and bets for further stimulus to ease the pandemic’s blow offset strong appetite for riskier assets and a firm dollar.

Spot gold was little changed at $1,875.67 per ounce by 1050 GMT, while U.S. gold futures eased 0.1% to $1,874. Gold fell as much as 5.2% on Monday after drugmaker Pfizer said its COVID-19 vaccine was more than 90% effective based on initial trial results, with the resultant optimism continuing to fuel a strong run in equities.

In global markets, spot gold declined about 5% on Tuesday following the covid vaccine announcement, its biggest slide since August. Gold erased all its gains since the US election when hopes for more fiscal stimulus helped prices break out of a narrow trading range.

(with agency inputs)

Gold held steady on Wednesday, as concerns over the global roll-out of a potential COVID-19 vaccine and bets for further stimulus to ease the pandemic’s blow offset strong appetite for riskier assets and a firm dollar.
Spot gold was little changed at $1,875.67 per ounce by 1050 GMT, while U.S. gold futures eased 0.1% to $1,874.
Gold fell as much as 5.2% on Monday after drugmaker Pfizer said its COVID-19 vaccine was more than 90% effective based on initial trial results, with the resultant optimism continuing to fuel a strong run in equities.

Posted By: Rakesh Kumar Jha