Gold Price Today: Gold Futures Trades Lower Mirroring Global Cues, Silver Drops
NDTV
Gold, Silver Price Today, 28 September 2021: On the Multi Commodity Exchange (MCX), gold futures due for an October 5 delivery, were last seen trading lower by Rs 98- or 0.21 per cent - at Rs 45,971
Gold Price In India: Gold futures traded lower on Tuesday, September 28, as the yellow metal mirrored trends in the international markets. On the Multi Commodity Exchange (MCX), gold futures due for an October 5 delivery, were last seen trading lower by Rs 98 - or 0.21 per cent - at Rs 45,971, compared to their previous close of Rs 46,069. Silver futures due for a December 3 delivery were last down 0.25 per cent at Rs 60,485 against a previous close of Rs 60,634.
Experts believe that gold will continue to remain choppy as the safe haven appeal will be offset by the US federal Reserve's rate hike expectations. In order to keep inflation in check, many policymakers at the US Federal Reserve anticipate a hike in interest rates as son as November.
Gold prices are also hurt by U.S treasury. yields - which have soared by a hawkish shift at the Federal Reserve as it may start tapering stimulus as the economy continues to recover.
On Tuesday, the rupee inched eight paise higher to 73.75 against the dollar in an early trade session. Gold is a safe haven buy for investors as it provides a hedge against inflation. If the rupee weakens against the greenback, gold prices may appreciate in rupee terms.
