Gold rate dips on Brexit hopes, soft macro data

NEW DELHI: Gold and silver futures prices in the domestic market slipped on Thursday as traders booked profits after softer jobless claims data showed signs of economic improvement. Hopes of a Brexit deal also put pressure on prices.

Data on Wednesday showed the number of Americans filing first-time claims for unemployment benefits unexpectedly fell last week, though remained elevated.

Gold futures on MCX were down 0.16 per cent or Rs 79 at Rs 50,070 per 10 grams. Silver futures declined 0.11 per cent or Rs 74 to Rs 67,502 per kg.




In the spot market, gold prices on Wednesday declined Rs 252 to Rs 49,506 per 10 gram in the national capital, according to HDFC Securities. Silver also dipped Rs 933 to Rs 66,493 per kg.

Globally, Gold prices steadied on Thursday as investors balanced elevated US jobless claims that undermined a nascent economic recovery with US President Donald Trump's threat to veto a long-awaited stimulus bill.

Spot gold was little changed at $1,872.60 per ounce by 0057 GMT, after climbing as much as 1 per cent in the previous session. US gold futures fell 0.1 per cent to $1,877.00.

Silver rose 1 per cent to $25.38 an ounce. Platinum climbed 0.5 per cent to $1,007.11 and palladium gained 0.2 per cent to $2,318.12.