INSUBCONTINENT EXCLUSIVE:
Gold Price Today: Yellow metal rates fell in the domestic market for third straight dayYellow metal prices in the domestic market slid on
Wednesday as the rupee gained
Gold futures on the MCX fell for the third straight day and traded at Rs 47,095 per 10 grams
Silver futures also witnessed a slight fall, as they traded at Rs 63,156 per kg.The rupee on Tuesday had strengthened by 29 paise and closed
at an almost three months high against the dollar at 73 rupees
Any gain in the rupee impacts imports as it is conducted in dollars, which makes gold prices to come down.Meanwhile in the international
market, gold prices were sluggish as investors await the jobs report in the United States, which could give some indications about by when
Gold is rangebound amid continuing debate over Fed's monetary policy
Supporting the price is virus concerns, disappointing US and Chinese economic data and tensions in Afghanistan that is countered by
continuing ETF outflows and general positive trend in equities
Gold may waver as market players may remain non-committal ahead of US jobs report however increasing challenges to the global economy may
keep price supported," said Ravindra Rao, head of commodity research at Kotak Securities.
