According to the data of October 13, on Tuesday, gold and silver prices were trading with cuts as the international market dollar strengthened amid optimism over a limited economic stimulus from the United States.
A White House spokeswoman announced, Republicans in the U.S. Senate will go along with what President Donald Trump wants in the coronavirus relief bill, as the White House pursues a deal with Democratic legislators. On Sunday, U.S President had called on Congress to pass a stripped-down coronavirus relief bill.
On Multi Commodity Exchange, gold futures decreased by 0.59 percent. That equals Rs 300 and settled at Rs 50,807 per 10 grams. Its peer, Silver futures, dropped 1.32 percent, which equals Rs 833 and touched Rs 62,265 per kg.
Moreover, according to HDFC Securities, in the spot market, the yellow metal prices gained Rs 236. Moreover, it hit Rs 51,558 per 10 grams, following a positive trend in the international market on Friday. Besides, the silver price also increased by Rs 376 and touched Rs 62,775 per kg.
Gold prices decreased lower, globally, as the dollar rose, although concerns over rising coronavirus cases and optimism over a massive U.S. fiscal stimulus being eventually released checked the gold’s fall.
Except for that, spot gold dipped 0.1 percent and settled at $1,919.51 per ounce. Moreover, U.S. Gold futures decreased by 0.3 percent and touched $1,923, while the dollar index gained 0.1 percent against competitors.
Trump has tested negative for COVID-19
As we know, the United States current President Donald Trump has tested negative for COVID-19. Therefore, it is not infectious to others, the White House physician stated, as Trump traveled to Florida for his first campaign rally since he recovered from the virus.
Moreover, the world’s largest gold-backed exchange-traded fund, holdings in SPDR Gold Trust, boosted 0.48 percent and settled at 1,277.65 tonnes on Monday.
At the same time, the white metal decreased by 0.4 percent and touched $25.02 per ounce. Besides, Palladium gained 0.1 percent and hit $2,403.07, while platinum was flat at $873.46.