Gold, Silver Open The Week Marginally Lower

Gold prices in India opened the day marginally lower, with Gold Futures for April delivery on the MCX at Rs 47,227, down Rs 29 over the previous day.

Silver rates in India too dipped with MCX Silver for March delivery trading at Rs 68,584. Gold and silver prices have seen sharp dip in India, following the Union Budget. We have seen prices falling after the government cut duties on gold in the Union Budget 2021-22.

Gold prices in Mumbai, were last seen trading at Rs 4,615 per 10 grams for 22 karats, while Gold rates in Bangalore were last seen trading at Rs 4,407 per 10 grams.

Internationally, gold prices may trade firm, given that we have seen hopes of a fiscal stimulus in the US being raised once again, given the poor US jobs data.