Gold Rate In West Bengal

News About Gold Rate in West Bengal

• Gold rates remain flat on 5 January 2021 as the dollar recovers

  Due to a low demand in the global markets, gold futures prices for the month of February on MCX traded flat on 5 January 2021. Spot gold prices in the international markets fell and were at $1,938.11 for an ounce. Gold futures prices in the US fell by 0.3% and were at $1,941.40 for an ounce. Gold futures prices for the month of February on MCX fell by 0.04% and were at Rs.51,495 for 10 grams. Due to the spread of the coronavirus in the UK, gold prices jumped on 4 January 2021.

  7 January 2021

• Gold prices fall on 11 December due to the delay in the US stimulus measures

  On 11 December 2020, gold prices reduced due to the uncertainty in the US stimulus packages. A weaker dollar also ensured that the prices of the yellow metal fell. Spot gold prices in the international markets fell by 0.1% and were at $1,833.70 for an ounce. Gold futures prices in the US were steady and were at $1,837.00 for an ounce. During times of currency debasement and inflation, gold is considered as a safe haven. Gold prices in India are inclusive of 3% GST and 12.5% import duty.

  15 December 2020

• Gold price trades flat, silver rate rises to Rs.61,600

  The prices of gold traded slightly lower on Monday post flat movement for two consecutive sessions, due to weak global cues. However, the yellow metal continued to trade above Rs 50K mark in India as the investors were attracted by the safe-haven appeal of the metal amid rising coronavirus cases.

  Gold October Futures on the Multi Commodity Exchange-remained flat at Rs.50,700 after hitting an intraday high and low of Rs.50,612 and Rs.50,777, respectively.

  Silver September Futures traded at Rs.61,590 per kg, growing Rs.725.

  The price of gold dropped in global markets due to strong American currency and delay in an agreement on the US economic stimulus.

  Spot gold remained steady at $1,882.00 per ounce, while US gold futures traded at $1,882.90 per ounce. Silver, on the other hand, grew 1.2% to $23.92 per ounce.

  3 November 2020

• Gold inches lower at Rs.50,000 range

  The Indian Gold MCX futures for December had dipped in spite of a positive trend that had been seen in the global spot rates. A few of the market analysts have said that the investors will buy the dip. They have also said that any dip in the price of the metal will be used as an opportunity to buy for a target of Rs.50,800 to Rs.51,000 for gold and for silver it is Rs.62.000 on silver. When it comes to the Multi-Commodity Exchange, the gold contracts for the month of December had traded lower by 0.11% and stood at Rs.50,489 per 10 gram. The December futures for silver had been trading by 0.19% higher and was at Rs.61,653 per kg.

  20 October 2020

• Gold price cross the mark of Rs.51,000 for every 10 grams

  In the Mumbai retail market, the price of gold climbed by Rs.546 and was trading at Rs.51,044 for every 10 grams on the back of rupee depreciation and subdued global cues. Following today’s increase, the price of the bullion crossed the mark of Rs.51,000 after a period of 14 days. Spot gold was trading at $1,918.20 per ounce after increasing by $4.78. Gold holdings in SPDR ETF remained unchanged at 1275.60 tonne. The gold-to-silver ratio stands at 85.52 to 1. The ratio means the amount of silver required to buy one ounce of gold.

  6 October 2020

• Gold prices drops by Rs.326 while silver stoops by Rs.945

  The price of gold has dropped by Rs.326 per 10 grams and now stands at Rs.52,423 for 10 grams. This was the rate in Delhi on Monday. Previously, the yellow metal came to a close at the rate of Rs.52,749 for every 10 grams.

  The price of silver also dropped down by Rs.945 for every kg. wherein it closed the day being traded at the rate of Rs.68,289 per kg. Earlier, it had closed at the rate of Rs.69,234 for every kg. In the meantime, the strength of Indian Rupee gained 7 paise against the USD and closed at Rs.73.38. This was the result even with the domestic equities plunging. In the international market, the precious yellow metal was being traded at $1,940 for an ounce. Silver, on the other hand, was being traded at the rate of $26.50 for every ounce.

  23 September 2020

• Gold price surge; silver prices cross Rs.68,000 per kg levels

  Gold prices increased for the third straight day on 7 September as the value of gold and silver increased in the international market. The price of the metal in the international market at $1,940 per ounce and silver prices neared the $27 per ounce.

  On the Multi Commodity Exchange, gold futures for October increased marginally by Rs.68 to Rs.50,746 per 10 grams after hitting an intraday high of Rs.50,823 per 10 grams. Gold futures on the MCX had decreased by more than Rs.5,000 compared to its lifetime high at Rs.56,191 per 10 grams.

  Silver prices for September increased by Rs.851 to cross the Rs.68,000 per kg levels at Rs.68,117 per kg. Silver futures had hit its lifetime high on 7 August at Rs.77,949 per kg.

  11 September 2020

• Gold sees support at Rs.50,800

  Gold prices had risen in spite of the muted trend in international spot gold rates. These had edged lower on a stronger U.S. dollar and hopes of a coronavirus treatment.

  On the MCX, the gold October contracts had been trading higher by 0.17% at Rs.51,358 per 10 gram. The silver September futures had been trading at Rs.66,030 per kg, up 0.7%. The U.S. dollar index had been firm near a more than one-week high hit last week.

  27 August 2020

• Gold rate drops to Rs.50,000 per 10-gram levels; records a decline of Rs.4,500

  Gold prices recorded a substantial decline in the market as Russia announced registering the world’s first COVID-19 vaccine. Triggering a profit booking spree amongst investors, silver and gold prices suffered. The tensions between China and the United States of America increased after Beijing imposed sanctions on 11 US officials.

  On the Multi Commodity Exchange, gold futures were trading at 2.82% lower at Rs.50,580 per 10 grams compared to its previous closing price of Rs.51,929 per 10 grams. Gold futures had touched an intraday high of Rs.51,650 per 10 grams, Rs.4,540 lower than its all-time high of Rs.56,191 in the previous week.

  Silver futures also fell by more than Rs.4,000 to Rs.62,287 per kg after hitting an intraday high of Rs.64,257 per kg. Silver futures had previously hit an all-time high at Rs.77,949 per kg last week.

  13 August 2020

• Gold price increase by more than 1% on Wednesday

  On Wednesday, gold price climbed by more than 1 percent and recorded its highest in nearly nine years. The jump in the rates was driven by a softer dollar and expectations of more stimulus to revive pandemic-hit economies. The futures of spot gold were up to $1,859.56 per ounce while US gold futures increased to $1,860.40. It must be noted that central banks have slashed interest rates and rolled out a wave of stimulus measures to cushion the economic damage from the pandemic. This has helped gold prices surge by over 22 percent so far this year. Silver rates were also up on Wednesday. An ounce was retailed for $22.34 after increasing by 4.8 percent.

  22 July 2020

• Gold rates fall in India for the second day in a row on 15 June 2020

  Even though there was a positive global trend, the prices of gold fell in India on 15 June 2020. This is the second consecutive day that the prices of gold have fallen.

  Gold futures prices for the month of August on MCX reduced by 0.4% and are at Rs.47,150 for 10 grams. In the previous session, the prices of gold had fallen by 0.12%. Even though jewellery shops have reopened the demand for gold has been low in India. This has led to shops providing a discount. Prices of gold in India are inclusive of 3% GST and 12.5% import duty. In the international markets, gold prices have increased due to the fears that there would be a second wave of coronavirus infections. Spot gold prices increased by 0.2% and are at $1,733.45 for an ounce. In the previous week, gold prices gained by 2.5%. There has been a sudden spike in coronavirus cases in China, as they announced a record number of infections for the second day in a row. In several US states, the number of new coronavirus cars and hospitalisations have hit record numbers. The prices of gold have also been supported by a weak dollar. According to several analysts, the demand for gold has affected the prices as well.

  15 June 2020

• Gold futures prices for the month of June increase by 0.24% on 26 May 2020

  Following steady global rates, the prices of gold increased slightly in India on 26 May 2020. Gold futures prices for the month of June on MCX increased by 0.24% and are at Rs.47,088 for 10 grams.

  Earlier in May, the prices of the yellow metal hit record highs and were close to Rs.48,000 for 10 grams. However, the prices have fallen since due to a decline in international rates. The appetite for riskier assets has improved after many countries decided to reopen their economies. The prices of gold have been under pressure since then. In the international markets, the prices of gold remained steady and were at the $1,730 per ounce levels. The value of equities increased as various steps were taken by countries to reopen their economies. The prices of gold were supported at lower levels due to the tensions between China and the US and a softer dollar. According to Geojit Financial Services’ head of commodity research, Hareesh V, the prices of gold will be boosted due to the cold war between China and the US and the oil trade between Iran and Venezuela due to the sanctions by the US. The prices of gold in India are inclusive of 3% GST and 12.5% import duty. The focus remains on the tensions between China and the US after the US added 33 Chinese entities to its trade blacklist.

  26 May 2020