In the global market, Gold prices are set to record their worst performance in six years as rates today dipped below the crucial support level of $1,800. Spot gold today fell 0.4 per cent to $1,796.47 per ounce, pressured by a higher dollar and firm Treasury yields. It’s down more than 5 per cent in 2021. Spot silver dipped 0.8 per cent to $22.62 an ounce, platinum eased 0.7 per cent to $961.35, and palladium fell 1.2 per cent to $1,960.31, all set for their worst showing in several years.
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In Indian markets, gold prices were today down 0.4 per cent to Rs 47,650 per 10 gram and are set to close on a flat note compared to a year-to-date basis. The precious metal has been trading in a narrow range over the past month, with analysts saying that gold has been caught between Omicron and inflation concerns and US Federal Reserve’s tapering move.
