Gold prices touch Rs 46,918 per 10 gm as dollar slips; silver rises by Rs 801

Gold prices touch Rs 46,918 per 10 gm as dollar slips; silver rises by Rs 801

Gold prices rose by Rs 73 to Rs 46,918 per 10 gram in the Mumbai bullion market on dollar weakness and subdued global cues. The precious metal has been trading in a narrow band amid a lack of fresh trigger as investors await tomorrow's US jobs report which will provide further cues on the Fed’s tapering timeline.

The price of 10 gram, 22-carat gold in Mumbai was Rs 42,977 plus 3 percent GST, while 24-carat 10 gram stood at Rs 46,918 plus GST. The 18-carat gold is quoted at Rs 35,189 plus GST in the retail market.

The US ADP payroll data for September came at 568,000 against an expectation of 428,000 addition, as per Reuters’ estimate. 

Gold holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, remained unchanged for the third day at 986.54 tonnes. The ETF has a market value of $55.79 billion.

The US dollar index trades slightly down at 94.22 against a basket of six rival currencies. 

Spot gold eased by $4.63 to $1,758.13 an ounce at 12:35 GMT in London trading.

MCX Bulldek slipped by 1 point or 0.01 percent to 13,932 at 18:06. The index tracks the real-time performance of MCX Gold and MCX Silver futures.

“Gold prices showed some strength