Silver Gold Price Today 16 October 2020 Latest Price Updates Gold Prices Today Drop Silver Rates Also Slip – Gold Silver Price: Gold and Silver futures fall in price, know how much price

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Business Desk, Amar Ujala, New Delhi

Updated Fri, 16 Oct 2020 10:09 AM IST

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Today, the futures price of gold and silver declined in India. December futures on MCX fell to Rs 50,653 per 10 grams, while silver futures to Rs 61,512 per kg. Gold and silver prices in India have been volatile this week. In the previous session, the price of gold had risen by 0.3 per cent, while silver had slipped 0.3 per cent. In August, gold reached a record high of Rs 56,200 per 10 grams, while the silver high was close to Rs 80,000 per kg.

Price is so high in global markets
Spot gold fell 0.1 percent to $ 1,906.39 an ounce in global markets today amid uncertainty over the dollar and the US stimulus package. It has fallen more than one percent so far this week. Among other precious metals, silver fell 0.2 percent to $ 24.26 an ounce, while platinum rose 0.2 percent to $ 866.05.

Gold is trading in a limited range this month due to uncertainty between the prospects of the US stimulus deal being passed ahead of the November 3 presidential election. The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund (ETF), fell 0.15 per cent to 1,276.06 tonnes on Thursday.

Analysts say concerns over uneven global economic recovery may cause gold price to fluctuate. Analysts at Kotak Securities said in a note, ‘The US dollar is seen as a safe haven asset’.

Sovereign Gold Bond Scheme deadline today
The Reserve Bank of India (RBI) has fixed the issue price of gold bonds at Rs 5,051 per gram. The Sovereign Gold Bond Scheme is open from October 12 to October 16 for the series 2020-21 – seven subscriptions. That is, today is the last date for investment. The RBI said in a statement, “The value of the bond is Rs. 5,051 per gram based on the average closing price of 999 purity gold in the last three trading days of the previous week from the subscription period”.

Today, the futures price of gold and silver declined in India. December futures on MCX fell to Rs 50,653 per 10 grams, while silver futures to Rs 61,512 per kg. Gold and silver prices in India have been volatile this week. In the previous session, the price of gold had risen by 0.3 per cent, while silver had slipped 0.3 per cent. In August, gold reached a record high of Rs 56,200 per 10 grams, while the silver high was close to Rs 80,000 per kg.

Price is so high in global markets

Spot gold fell 0.1 percent to $ 1,906.39 an ounce in global markets today amid uncertainty over the dollar and the US stimulus package. It has fallen more than one percent so far this week. Among other precious metals, silver fell 0.2 percent to $ 24.26 an ounce, while platinum rose 0.2 percent to $ 866.05. Gold is trading in a limited range this month due to uncertainty between the prospects of the US stimulus deal being passed ahead of the November 3 presidential election. The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange traded fund (ETF), fell 0.15 per cent to 1,276.06 tonnes on Thursday.

Analysts say concerns over uneven global economic recovery may cause gold price to fluctuate. Analysts at Kotak Securities said in a note, ‘The US dollar is seen as a safe haven asset’.

Sovereign Gold Bond Scheme deadline today
The Reserve Bank of India (RBI) has fixed the issue price of gold bonds at Rs 5,051 per gram. The Sovereign Gold Bond Scheme is open from October 12 to October 16 for the series – seven subscriptions of 2020-21. That is, today is the last date for investment. The RBI said in a statement, “The value of the bond is Rs. 5,051 per gram based on the average closing price of 999 purity gold in the last three trading days of the previous week from the subscription period”.

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