Page 13 - Head Commodity News Today : Breaking News, Live Updates & Top Stories | Vimarsana

"Gold prices stabilised after a recent 3% drop, with investors considering future interest rates due to a slowdown in the US job market. Concerns about inflation and the possibility of excessive rate cuts initially drove gold to a record high on Monday, but it quickly retreated. The market now suggests a 60% chance of the Fed lowering rates in March," Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies said.

On Comex, Gold futures last traded at $2,041.50 per troy ounce, up by $3.40 or 0.17% while Silver futures were trading at $25.315, higher by 0.022 or 0.090%.

The dollar index was trading at 102.80 against a basket of top six currencies, marginally up by $0.03 or 0.03%.

Gold futures on the MCX have gained by 2.37% or Rs 1,445 per 10 gram on the month-to-date basis, Analyst Anuj Gupta, Head Commodity & Currency, HDFC Securities informed.

The RBI has set the redemption price at Rs 6,132 per gram which is a 128% (Rs 3,448) premium over the issue price of Rs 2,684 per gram, the interest income is calculated over the issue price at 2.5% per annum for the maturity period of eight years