Domestic gold prices remained slightly up for the seventh consecutive day amid choppy trade on Tuesday as a weak dollar's boost was offset by Federal Reserve officials reiterating their aggressive stance against inflation.
On MCX, gold prices were up by nearly 0.1 percent to touch Rs 55,903 per gram. Meanwhile, Silver was down by Rs 360 to Rs 68,540 per kg. Globally, Spot gold rose 0.3 percent to $1,870.45 per ounce by 1:48 pm ET (1848 GMT).
The dollar was near its lowest in seven months, making gold cheaper for overseas buyers early Tuesday. Around 1:30 pm, US Dollar Index Futures was up 0.25 percent at 103.010. With this, the rupee jumped nine paise to open at 82.27 vs the dollar on Tuesday as global crude oil prices eased.
Oil prices were little changed on Tuesday as traders awaited clarity on the US Federal Reserve's plans for rate hikes to gauge the impact on the economy and fuel demand. Brent crude futures were 0.5 percent down at $79.3 per barrel at the last count. WTI futures jumped 0.3 percent to $74.4 per barrel at the last count.
Indian equity benchmarks BSE Sensex and NSE Nifty50 opened higher on Tuesday, mirroring gains across global markets.
First Published: Jan 10, 2023 2:03 PM IST
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