INSUBCONTINENT EXCLUSIVE:
Sovereign gold, however, remained flat at Rs 24,600 per piece of eight grams.Gold bounced back by Rs 150 to Rs 30,800 per ten grams at the
bullion market today due to pick up in buying by local jewellers even as the precious metal weakened overseas, reported news agency Press
However, silver drifted lower by Rs 150 to Rs 39,050 per kg due to reduced offtake by industrial units and coin makers
Traders said fresh buying by local jewellers at domestic spot market mainly attributed the recovery in gold prices, but a weak trend
overseas, pressured by a stronger US dollar ahead of the outcome of a Federal Reserve monetary policy meeting later in the day, capped the
rise.Here are five things to know about gold prices, silver rates today:1
Globally, gold was stable near one-year lows on Wednesday on a stronger dollar, as the market waited for signals on the direction of US
monetary policy from a Federal Reserve meeting, reported Reuters.Spot gold edged down 0.1 per cent to $1,223.08 per ounce, close to a
one-year low of $1,211.08 reached on July 19
In Delhi, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 150 each to Rs 30,800 and Rs 30,650 per ten grams, respectively
It had lost Rs 130 in the previous two sessions
"As expected, the MCX gold stayed in a tight range today
The focus is FOMC (Federal Open Market Committee) monetary policy and its guidance
Nonetheless it is largely anticipated that US will keep rates unchanged
Comex gold holds fourth straight monthly decline as investors assess outlook for US-China trade war, said Jigar Trivedi, fundamental
research analyst - commodities, AnandRathi Commodities.4
