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    Gold rate slips over 0.50% in early trade, may test Rs 45,900

    Synopsis

    The yellow metal was down 0.66 per cent at Rs 46,390 per 10 gram in the morning trade. On the other hand, white metal silver traded 0.69 per cent lower at Rs 48,474 per 1 kg.

    Gold-1---reutersReuters
    SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings, dipped 0.1 per cent to 1,132.21 tonnes on Thursday.
    Gold futures were trading lower in early trade on Friday, ahead of a highly awaited US jobs report as markets pinned hopes on economic recovery.

    The yellow metal was down 0.66 per cent at Rs 46,390 per 10 gram in the morning trade. On the other hand, white metal silver traded 0.69 per cent lower at Rs 48,474 per 1 kg.

    “Bullion counter may trade with a bearish bias. Gold may test Rs 45,900 and facing resistance near Rs 46,900 while silver may test Rs 48,000 while facing resistance near Rs 49,300,” SMC Global Securities said in a report.

    Gold Rates - Spot & Futures (.995 purity) (MCX)

    DateGold Spot Price
    Rs/10 grms (AHMEDABAD)
    Gold Future Price
    Rs/10 grms Expiry: 05-Apr-2024
    28-03-20246698767800
    27-03-20246650166399
    22-03-20246597565870
    21-03-20246667966180
    20-03-20246544665715
    19-03-20246534965576
    18-03-20246525865634
    15-03-20246536565545
    14-03-20246530965580
    13-03-20246518265851
    12-03-20246553165414
    11-03-20246554866033
    08-03-20246500766021
    07-03-20246500765423
    06-03-20246442065200


    Globally, gold is set for a third consecutive weekly drop. The dollar index has fallen over 1.5 per cent this week, making gold cheaper for holders of other currencies.

    There are hopes factors like weakness in dollar, trade tensions and risks of a second coronavirus wave may provide some support to the yellow metal going ahead.

    SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings, dipped 0.1 per cent to 1,132.21 tonnes on Thursday.

    Investors now wait for the US nonfarm payrolls data for May due at 1230 GMT, which is likely to show payrolls falling by 8 million after a record 20.537 million plunge in April, as per a Reuters survey.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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