New Delhi: Gold futures fell on Monday, October 11, as the yellow metal followed the trend in the global market. On the Multi Commodity Exchange (MCX), gold futures for delivery on December 3 were trading 0.37 per cent lower at Rs 46,864 from their previous closing price of Rs 47,037.
Silver futures for delivery on December 3 last traded at Rs 61,480, down 0.52 per cent from their previous close of Rs 61,801.
According to Mumbai-based industry group India Bullion and Jewelers Association, domestic spot gold of 24-carat purity opened on Friday at Rs 46,966 per 10 grams, and silver at Rs 61,475 per kg – both rates excluding GST (IBJA). Also Read: 10 Rupee Indian Currency Note With Serial Number 786 Found? Get 5 lakh rupees on selling it
The dollar was supported as US yields outperformed Germany and Japan, pushing it against the yen at 112.67, its best level since late 2018. The dollar index held steady at 94.133, down from its recent high of 94.504.
Gold, which has no fixed returns, has been pulled down by a stronger dollar and higher returns, keeping it stuck at $1,756 an ounce. Also read: Apple iPhone SE 3 May Come With 5G Connectivity, Upgraded Chipset
There was no change in the price of gold in the international market on Monday. As of 0053 GMT, spot gold was unchanged at $1,756.25 an ounce. Gold futures in the United States were flat at $1,756.80. The dollar index declined 0.1 percent. On Friday, the benchmark US 10-year Treasury yield rose to its highest level since early June. In September, US companies added 194,000 jobs, far lower than expected. However, an upward revision in last month’s figures indicates that the economy has now accounted for half of the jobs gap faced in December.