Gold prices today slip on profit booking

Gold traded lower on Tuesday on further profit booking and as investors preferred to take out cash while coronavirus cases continue to rise in India.

With businesses shut in several cities in India amid rising threat of coronavirus, investors are wary of betting on any asset class. The number of active cases were at 1,117, as per the government data.

Gold futures were down 0.34 per cent or Rs 149 to Rs 43,232 per 10 grams. Silver futures were up 0.32 per cent or Rs 127 to Rs 39,925 per kg.




The Indian spot gold markets remained shut on Monday due to countrywide lockdown to control COVID-19, according to HDFC Securities. The country is undergoing a 21-day lockdown since last week.

Globally, gold prices eased on Tuesday as the U.S. dollar held firm, while fears of further economic fallout from the coronavirus pandemic provided some support to bullion, which is on track to post its sixth straight quarterly gain.

Spot gold was down 0.3 per cent at $1,616.34 an ounce, as of 0037 GMT. U.S. gold futures eased 0.1 per cent to $1,641.20.

The metal was up about 6.5 per cent for the quarter, set for its sixth consecutive quarterly percentage rise.

Palladium gained 1 per cent to $2,349.90 an ounce. Platinum rose 0.5 per cent to $727.06, but was on track to post its biggest quarterly percentage loss since 2008.

Silver dropped 0.7 per cent to $14.02, and was set to post its worst quarter since 2013.