Gold Price Today: Gold Futures Trades Lower, May Remain Below Rs 48,000

Gold futures were aftermost apparent trading lower by Rs 29- or 0.06 per cent - at Rs 47,555

Gold futures traded in the abrogating area on Tuesday, August 24, as the chicken metal mirrored global trends. On the Multi Commodity Exchange (MCX), gold futures due for an October 5 delivery, were aftermost apparent trading lower by Rs 29 - or 0.06 per cent - at Rs 47,555, compared to their antecedent abutting of Rs 47,584. Argent futures due for a September 3 delivery were aftermost up 0.22 per cent at Rs 63,066 against a antecedent abutting of Rs 62,927. (

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Domestic atom gold opened at Rs 47,646 per 10 grams on Tuesday, and argent at Rs 63,030 per kilogram - both ante excluding GST, according to Mumbai-based industry anatomy India Bullion and Jewellers Association (IBJA).

Gold is advised as a barrier adjoin inflation, while the ascent absorption ante addition the befalling amount of captivation non-yielding gold, according to experts.

Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities:

“COMEX gold trades hardly lower abreast $1805/oz afterwards a 1.3 per cent gain yesterday. Gold steadied as the US dollar basis paused afterwards yesterday's decline. Supporting amount is bargain expectations of Fed's budgetary abbreviating column comments from Dallas Fed President Robert Kaplan, alloyed bread-and-butter abstracts from aloft economies, tensions apropos to Afghanistan and constant virus concerns.

Weighing on amount is continuing ETF outflows and accretion in disinterestedness markets. Gold's breach aloft $1800/oz shows absolute drive about assets may be bound if beasts abatement in befitting it aloft $1800/oz.”

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