- Gold prices rose Rs 144 to Rs 49,995 per 10 gram in the Mumbai retail market on a softer dollar and positive global cues. The precious metal gained on optimism surrounding the US stimulus but the upside was capped by strength in the rupee.
- The rate of 10 gram 22-carat gold in Mumbai was Rs 45,795 plus 3 percent GST, while 24-carat 10 gram was Rs 49,995 plus GST. The 18-carat gold quoted at Rs 37,496 plus GST in the retail market.
- US Labour Department reported that claims for state unemployment benefits dropped to 89,000 to a seasonally adjusted 803,000 for the week ended December 19.
- The US dollar traded weaker at 90.16, down 0.19 percent in the evening session against a basket of currencies. The US dollar fell as risk appetite rose on expectations of an imminent Brexit trade deal between the UK and the EU.
- Gold holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund were unchanged at 1,167.52 tonnes.
Dec 25th, 2020