INSUBCONTINENT EXCLUSIVE:
Gold Price Today: Yellow metal slid in the domestic marketYellow metal prices in the domestic markets slid slightly as on the MCX the
Silver prices though showed a meagre rise as September futures traded at Rs 63,592 per kg mainly due to rupee depreciation.At the
international level, gold prices declined as they recorded a weekly loss in the last one month over fears among investors on US Federal
tapering of assets by the US Federal Reserve
Gold spot prices traded low by 2 per cent at $1,787 per ounce for the week.Gold ETF holdings continued with their declining trends as
holdings at SPDR gold shares fell to 998 tonnes for the week.Silver prices at the international level also fell by 4 per cent to trade at
$23.74 per ounce for the week.Commenting on gold prices, Ravindra Rao, head of commodity research at Kotak Securities said, "COMEX gold
Weighing on gold price is firmness in US dollar amid persisting debate about Fed's monetary tightening
Also weighing on price is weaker investor interest as is evident from ETF outflows
However, supporting price is geopolitical tensions, rising inflation, US-China tensions, China's regulatory measures and persisting virus
