INSUBCONTINENT EXCLUSIVE:
Akshaya Tritiya 2021: 24 carat or fine gold was priced at Rs 47,760 per 10 grams.Prices of precious metals (gold and silver) declined
marginally on Multi Commodity Exchange on Akshaya Tritiya day, the day considered by many as an auspicious to make purchases of precious
metals like gold and silver believing that it will bring good luck
Price of gold futures for delivery in June on the Multi Commodity Exchange declined as much as 0.2 per cent to Rs 47,343 per 10 grams
In the spot market, 24 carat or fine gold was priced at Rs 47,760 per 10 grams, 22 carat gold was sold at Rs 46,140, 18 carat gold was
little changed near $1820/oz after a 0.1 per cent gain yesterday
Gold stabilized as US bond yields eased back after testing the highest level in more than a month
Also supporting price is increased tensions between Israel and Gaza
However, weighing on price is ETF outflows, concerns about consumer demand in India and increasing debate that inflation pressure may cause
Gold may remain choppy reflecting volatility in the US dollar however we expect buying interest to emerge at lower levels as Fed is likely
was Gold prices fell on Friday and were on track for a weekly loss, as firmer dollar and rising United States Treasury yields dampened the
metal's safe-haven appeal.Spot gold was down 0.3 per cent at $1,821.89 per ounce by 0401 GMT
For the week, bullion has lost nearly 0.5 per cent.United States gold futures eased 0.1 per cent at $1,822.10.Benchmark United States
10-year Treasury yields were trading above the key 1.6 per cent level and were on track for a strong weekly rise
Higher bond yields raise the opportunity cost of holding non-interest bearing gold.Back home, silver prices were also trading marginally
lower on Akshaya Tritiya day
Silver futures for delivery in July declined as much as 0.19 per cent to hit an intraday low of Rs 70,337
In spot market silver was priced at Rs 70,948 per kilogram.
