New Delhi: Gold prices in the global market remained almost flat on Wednesday. The prospect of a spurt in U.S. interest rates and the weakness of the dollar have been the major reasons for this. The dollar index fell 0.1 percent on Wednesday. This eliminated the possibility of gold gaining momentum. Gold gained 0.26 per cent to 46,993 per 10 grams in MCX on Wednesday in the domestic market. Silver rose 0.56 per cent to cross Rs 70,000 per kg.
Gold prices had reached Rs 56,200 per 10 grams in August 2020. Gold prices have fallen by Rs 10,000 from record levels so far. Gold rose 97 rupees, to 46,758 rupees per ten grams in Delhi on Tuesday. Gold had closed at Rs 46,661 per ten grams in Monday's trade. Silver also gained Rs 1,282 to Rs 70,270 per kg. It had earlier closed at Rs 68,988 on Monday.
The demand for gold in India seems to be rising once again. Gold imports in the country have shown an increase. At the same time, retail demand has also been seen. This demand was not visible during the last few months. In terms of value, the country has registered a 58 per cent increase in jewellery demand in the first three months of this year.
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