Today gold price fell in India, tracking a decline in global rates and an appreciation of the rupee against the US dollar. On MCX were down 0.8 per cent to Rs 43,195 per 10 gram, after they rose 3 per cent or about Rs 1,300 per 10 gram in the previous session. . June gold futures were today down 0.5 per cent to Rs 43,420. Silver prices edged lower too with futures on MCX down 0.08 per cent to Rs 41,290 per kg. In past four days, gold April futures are up Rs 3,700 per 10 gram, tracking a global rally.
Trading hours in commodity derivatives trading in India will be cut down from March 30 till April 14, exchanges said. The trading will begin at 9 am and close at 5 pm and the new timings will be effective from March 30 till April 14.
In global markets, gold prices edged lower today on profit-taking rates hit a two-week high in the previous session. Spot gold slipped 0.5 per cent to $1,621.07 per ounce. So far this week, gold is up over 8 per cent this week, heading for its biggest weekly gain in over a decade. The Federal Reserve’s unprecedented economic stimulus measures and the passage of $2 trillion economic rescue bill have lifted equities and gold this week.
Read EquityPandit’s Nifty Outlook for the Week