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    Gold rate eases amid upbeat economic data, optimism over vaccine

    Synopsis

    A Covid-19 vaccine developed by German biotech firm BioNTech and US pharmaceutical giant Pfizer has shown potential and was found to be well tolerated in early-stage human trials.

    Gold-2---ReutersReuters
    Globally, gold prices slipped easing from a near eight-year high hit in the previous session, as strong US data and hopes for a potential Covid-19 vaccine dented safe-haven sentiment.
    NEW DELHI: Gold and silver saw profit booking in the morning session on Thursday but fast rising Covid-19 cases kept the losses in check. Optimism over a potential vaccine and better than expected economic readings lifted investors' appetite for riskier assets.

    A Covid-19 vaccine developed by German biotech firm BioNTech and US pharmaceutical giant Pfizer has shown potential and was found to be well tolerated in early-stage human trials.

    Meanwhile, the total number of coronavirus patients in India reached over 6 lakh while fatalities climbed above 17,800 levels.

    Gold futures were down 0.14 per cent or Rs 68 at Rs 48,199 per 10 grams. Silver futures dipped 0.21 per cent or Rs 106 to Rs 49,318 per kg.

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

    DateGold Spot Price
    Rs/10 grms (AHMEDABAD)
    Gold Future Price
    Rs/10 grms Expiry: 05-Apr-2024
    22-03-20246597565870
    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
    05-03-20246441364819

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    Gold in the national capital zoomed Rs 647 to Rs 49,908 per 10 grams on Wednesday in line with gains in the international prices of the precious metal, according to HDFC Securities. Silver also jumped Rs 1,611 to Rs 51,870 per kg.

    Retail gold prices in Mumbai breached the Rs 50,000-per-10gm mark on Wednesday. This is the first time the price of the precious metal, with which Indians associate sentimentally, crossed the psychologically important level.

    Globally, gold prices slipped easing from a near eight-year high hit in the previous session, as strong US data and hopes for a potential Covid-19 vaccine dented safe-haven sentiment.

    Spot gold fell 0.2 per cent to $1,767.11 per ounce by 0034 GMT, after touching $1,788.96 on Wednesday — its highest since October 2012. US gold futures fell 0.2 per cent to $1,777.30.

    Meanwhile, The U.S. House of Representatives passed legislation on Wednesday that would penalise banks doing business with Chinese officials who implement a national security law.

    Hong Kong police fired water cannon and tear gas and arrested more than 300 people on Wednesday as protesters took to the streets in defiance of sweeping security legislation introduced by China to snuff out dissent.

    Palladium gained 0.3 per cent to $1,909.70 per ounce, while platinum fell 0.2 per cent to $813.94 and silver rose 0.2 per cent to $17.97.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    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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