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Indian Gold and Silver Retail Rates Edge Lower October 6
Gold and silver prices went down a little in India's retail market on October 6.
The article lists prices for gold in two purities and for very pure silver in several cities.
Gold prices in international markets changed very little.
A stronger US dollar and high Treasury yields put pressure on gold, while lower expectations of a Federal Reserve rate hike helped offset that pressure.
The article also links market uncertainty to tensions involving the United States and Iran.
MCX gold and silver futures were both lower during the reported trading.
Chennai had the highest listed 24-karat gold price among the cities shown.
Indian retail prices for 24-karat and 22-karat gold declined marginally on October 6.
Silver prices also fell in the domestic bullion market.
MCX gold was down 0.05% at ₹1,49,370 per 10 grams; silver futures fell about 0.33% to ₹2,25,700 per kg.
Spot gold slipped 0.2% to $4,133.59 per ounce, while December US gold futures fell 0.02% to $4,161.5.
Among listed cities, Chennai had the highest reported 24-karat gold rate at ₹149,620 per 10 grams.
- Who
- Gold and silver buyers and traders in India; the article also cites US President Donald Trump.
- What
- Retail gold and silver rates declined marginally, while international gold prices were nearly steady.
- Where
- Indian retail markets and the international bullion market.
- When
- October 6; the year is not specified in the article.
- Why
- The article cites dollar strength and elevated US Treasury yields as pressure on gold, partly offset by reduced expectations of a Federal Reserve rate hike, alongside geopolitical uncertainty involving the US and Iran.
Key facts
- MCX gold
- ₹1,49,370 per 10 grams, down 0.05%.
- MCX silver futures
- ₹2,25,700 per kg, down about 0.33% around 9:13 am.
- Spot gold
- $4,133.59 per ounce, down 0.2% at 2:25 pm EDT.
- December US gold futures
- $4,161.5, down 0.02%.
- New Delhi retail rates
- 24K gold: ₹148,850/10 gm; 22K gold: ₹136,440/10 gm; 999 silver: ₹224,900/kg.
- Mumbai retail rates
- 24K gold: ₹149,100/10 gm; 22K gold: ₹136,675/10 gm; 999 silver: ₹225,290/kg.
- Chennai 24K gold rate
- ₹149,620 per 10 grams, the highest listed among the cities with a reported 24K rate.
Quotes
Donald Trump
US president, quoted in response to a question about who made the threat.
“They would be linked to Iran”
livemint.com
Sources
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