Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Charlie Kirk shot dead
  • Nepal protests
  • Russia-Poland tension
  • Israeli strikes in Qatar
  • Larry Ellison
  • Apple event
  • Sunjay Kapur inheritance row
fp-logo
Gold prices fell to lowest in 10 months today, down by Rs 11,000 since August high; here's why
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Business
  • Gold prices fell to lowest in 10 months today, down by Rs 11,000 since August high; here's why

Gold prices fell to lowest in 10 months today, down by Rs 11,000 since August high; here's why

FP Trending • March 3, 2021, 20:07:11 IST
Whatsapp Facebook Twitter

The gold futures for April were down 0.96 percent or Rs 435.00 to Rs 45,113.00 per 10gm on MCX at 4.37 pm today

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Gold prices fell to lowest in 10 months today, down by Rs 11,000 since August high; here's why

The price of gold struggled near 10-month lows amid weak global cues on Wednesday, down by Rs 11,000 as compared to the August highs of Rs 56,200. The gold futures for April were down 0.96 percent or Rs 435.00 to Rs 45,113.00 per 10g on MCX at 4.37 pm. This was the sixth consecutive day of decline, reported Live Mint. In contrast, silver futures were trading at Rs 67,526.00 per kg, up by Rs 187.00 or 0.28 percent. Compared to the August highs of Rs 56,200, the price of the yellow metal is now down by Rs 11,000, the report further added. The reason behind the fall in gold prices on Wednesday in the global market is the firm US treasury yields, which continued to weigh on the non-yielding bullion. Spot gold eased 0.2 percent at $1,734.16 per ounce, Hindustan Times reported. The benchmark US Treasury yields held near 1.4 percent levels last week after a sharp fall. Also, silver dipped 0.3 percent to $26.67 an ounce, whereas palladium climbed 0.6 percent to $2,376.50. Platinum also shed 0.3 per cent to $1,200.50. https://www.zeebiz.com/personal-finance/news-why-gold-prices-have-got-low-and-is-it-expected-to-fall-lower-should-people-be-looking-to-invest-in-it-151451 Here are a few other reasons causing this subdued performance: First, the value of the Indian Rupee is appreciating against the US Dollar. Till now, Rupee has appreciated by 3.5 percent approximately, since the first week of August 2020. Second, due to the reduction in import duty announced by Union Finance Minister Nirmala Sitharaman in the Budget 2021, gold prices in Rupee terms are subdued. Third, the US Federal Reserve has commented that the US econnoy is a “ long way from our employment and inflation goals”, which indicated easy monetary policy is likely to stay in place. Fourth, some other key events that would be monitored by the gold traders’ this week includes the US Federal Reserve Beige Book, a meeting of the oil producers’ group on Thursday, data on US factory orders, initial jobless claims, durable goods orders, US employment report. All these details will be released this week. Fith, the last tranche in Sovereign Gold Bonds 2020-21 is currently open for subscription in India with an issue price of Rs 4,662 per gram. However, those who apply online and further make the online payment will get a discount of Rs 50 per gram. For them, the issue price will be Rs 4,612. The issue will close on 5 March, 2021.

Tags
NewsTracker Gold prices gold futures
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.

More Impact Shorts

Top Stories

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

From governance to tourism, how Gen-Z protests have damaged Nepal

From governance to tourism, how Gen-Z protests have damaged Nepal

Did Russia deliberately send drones into Poland’s airspace?

Did Russia deliberately send drones into Poland’s airspace?

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

From governance to tourism, how Gen-Z protests have damaged Nepal

From governance to tourism, how Gen-Z protests have damaged Nepal

Did Russia deliberately send drones into Poland’s airspace?

Did Russia deliberately send drones into Poland’s airspace?

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV