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Gold HIGHLIGHTS Gold and Silver rates in India fell today following the sharp losses of the previous session.
Gold and silver rates today 05 June 2020: Gold and Silver rates in India fell today following the sharp losses of the previous session. On MCX, August gold futures fell 0.18% to Rs. 47,510 per 10 gram after tumbling in the previous session. Tracking gold, silver rates also edged lower. On MCX, July silver futures fell 0.9% to ₹48,500 per kg. Silver had declined about ₹1,500 in the previous session. An appreciation of rupee against US dollar also put pressure on domestic gold prices. Gold prices in India include 12.5% import duty and 3% GST.
Gold and silver rates dipped today as equity markets continued to rally on optimism over reopening of economies. However, protests in the US and a soft dollar has led to the downfall of gold.
Going by the gold rates at metro cities, the gold rates in silicon city Bangalore declined by 250 to Rs. 43,550 and Rs. 690 decreased to 47,510 per ten gram of 22 carat and 24 carat gold respectively.
The ten gram of 22 carat gold in the Hyderabad market has decreased by Rs. 120 to Rs 44,560 and the gold rate for ten gram of 24 Carat also decreased by Rs. 140 to Rs. 48,640
While in Kerala, the gold rates have decreased by Rs. 100 per ten gram of 22 carat gold at Rs. 42,800 and Rs. 46,800 per ten grams of 24 carat gold with a hike of Rs. 100.
In Visakhapatnam, the same trends followed with with decline of Rs. 120 to Rs. 44,560 per ten gram of 22 carat while the ten gram of 24 carat gold is down by Rs. 140 to Rs. 48,640.
- 05 June 2020 Pavan Kumar Bandari Hans News Service
