Gold Rate Today: Retail Price of Yellow Metal Eases After Crossing Rs 50,000 Per 10 Gram Mark in Mumbai

Team Latestly
·1-min read

Mumbai, July 2: The retail gold price in the city declined in line with international rates on Thursday. According to a Good Returns report, the price of gold crossed the psychologically level of Rs 50,000 per 10gm levels for the first time on Wednesday.

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On Wednesday, In the futures market, August gold contract on the MCX slipped by 0.19 percent or Rs. 91 to Rs. 48176 per 10 gm at 9:19 am. Gold and silver saw profit booking in the morning session on Thursday but the increasing number of coronavirus cases kept the losses in check. Coronavirus Cases in India Cross 6 Lakh Cases, COVID-19 Death Toll Jumps to 17,834.

Globally, gold prices slipped easing from a near eight-year high hit in the previous session, as strong US data and hopes for a potential Covid-19 vaccine dented safe-haven sentiment.

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India reported 434 deaths and 19,148 new COVID-19 cases in the past 24 hours. The total coronavirus cases in the country crossed the 6 lakh mark, according to the numbers shared by the Ministry of Health and Family Welfare on Thursday.