2 min read.Updated: 05 Aug 2021, 10:50 AM ISTLivemint
Gold price outlook: The precious metal could be under pressure in the near term, say analysts
Gold struggled for fifth day in a row in India amid rangebound movement in global rates. On MCX, gold futures were down moderately at ₹47,888 per 10 gram, extending losses to about ₹700 per 10 gram in five days. Silver also struggled with futures down 0.1% to ₹67531 per kg. Global gold rates were subdued after the dollar firmed and remarks from a top U.S. Federal Reserve official signaled the possibility of bringing forward policy tightening, says Jigar Trivedi, Research Analyst- Commodities Fundamental, Anand Rathi Shares & Stock Brokers.