In the international market, gold was quoting lower at USD 1,787 per ounce while silver was flat at USD 20.45 per ounce."Gold prices retreated after soft US inflation data and eased recession worries," said Tapan Patel, Senior Analys

"Today’s range of MCX October gold is Rs 52,090-52,505. Domestic silver futures prices could stay flat-to-weak, tracking overseas markets. The range for MCX September silver contract is Rs 58,450-59,415," Reliance Securities said in a note.

Gasoline product supplied rose in the most recent week to 9.1 million barrels per day, though that figure still shows demand down 6% over the past four weeks compared with the year-ago period.

New Delhi: Gold prices eased by Rs 60 to Rs 52,811 per 10 grams in the national capital on Wednesday in line with losses in the precious metal in the global markets, according to

"With both the dollar index and bond yields holding steady, gold prices will face some headwinds in the near term," he added. "That said, the long-term up-move remains very much on the cards."

The dollar index held firm against its rivals, making gold less appealing for other currency holders. Benchmark U.S. 10-year Treasury yields edged higher to 2.7883%, increasing the opportunity cost of holding non-interest bearing gold.

oil prices settled slightly lower after a choppy trading session that saw investors weigh recessionary concerns with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine.

The dollar index moved further away from a one-week peak hit post Friday's blockbuster U.S. jobs report, making gold less expensive for other currency holders. * Benchmark U.S. 10-year Treasury yields dipped to 2.7554%, reducing the opportunity cost of holding non-interest bearing gold.

"The spectre of a U.S.-Iran nuclear deal continues to hover over the market," ANZ Research analysts said in a note.The European Union late on Monday put forward a "final" text to revive the 2015 Iran nuclear deal, awaiting approvals from Washington and Tehran. A senior EU official said a final decision on the proposal was expected within "very, very few weeks".

Silver also jumped by Rs 527 to Rs 58,465 per kg from Rs 57,938 per kg in the previous trade.The rupee depreciated 22 paise to 79.46 against the US dollar in early trade on Monday, tracking subdued sentiment in the domestic equities.In the international market, gold was trading higher at USD 1,777 per ounce while silver was flat at USD 20.07 per ounce.

Hareesh V, Head of Commodities, Geojit Financial Services said geopolitical worries and weak economic activities across the globe are the key reasons that pushed the gold prices higher.He added inflation numbers would decide the future course of action by the Federal Reserve in terms of rate hikes to curb inflation amid the ongoing economic slowdow

Gold futures on MCX were down, marginally lower by 0.10 per cent or Rs 52 at Rs 51,822 per 10 grams. However, silver futures were flat, marginally up merely by 0.01 per cent or Rs 4 at Rs 57,368 per kg.Focus this week will be on US inflation data due on Wednesday that could offer more clues on the Fed rate hike path. Also, tensions between China and Taiwan will also be on the radar of investors.

Traders currently see a 73.5% probability the U.S. Fed continues the pace of 75-basis-point rate hikes for its next policy decision on Sept. 21 to tame soaring inflation. Although gold is seen as a hedge against inflation, rising U.S. interest rates dull bullion's appeal

China, the world's top crude importer, imported 8.79 million barrels per day (bpd) of crude in July, up from a four-year low in June, but still 9.5% lower than a year ago, customs data showed.

Russia has been facing several economic sanctions from the US and European Union after its inversion of Ukraine. This includes freezing the assets of the Russian central bank, barring Russian banks from international transactions, and limiting imports of Russian oil and gas. The European Union also announced plans to reduce demand for Russian gas by two-thirds and make Europe independent from Russian fuels by 2030.

Gold holdings with SPDR ETF slipped to fresh January lows last week, showing that investors are not confident about recent price gains. Gold is also challenged by concerns about consumer demand in India and China.

New Delhi: Gold in the national capital on Thursday plunged Rs 491 to Rs 45,735 per 10 gram amid a decline in international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,226 per 10 grams. Silver also tumbled Rs 724 to Rs 61,541 per kilogram from Rs 62,265 per kilogram in the previous trade. The Indian rupee inched higher by 5 paise to 73.45 against the US dollar in opening trade on Thursday. In the international market, gold was trading lower at $1,786 per ounce and silver was flat at $23.60 per ounce.

On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 5, or 0.09 per cent, to Rs 5,330 per barrel with a business volume of 3,997 lots.

On the Multi Commodity Exchange, copper contracts for the September delivery eased by Rs 12.80, or 1.74 per cent, to Rs 722.25 per kg in a business turnover of 3,827 lots.

On the Multi Commodity Exchange, nickel contracts for the September delivery traded lower by Rs 44.20, or 2.91 per cent, to Rs 1,475 per kg with a business turnover of 1,363 lots.

On the National Commodity and Derivatives Exchange, soybean for September delivery rose by Rs 130, or 1.5 per cent, to Rs 8,790 per quintal with an open interest of 7,590 lots.

On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery was trading at Rs 6,202 down by Rs 127, or 2.01 per cent per 10 quintal with an open interest of 4,700 lots.

Ravindra Rao MCX Gold futures pulled back during Wednesday’s trading session as it faced stiff resistance at its 50-DEMA at Rs 47,280. It seems the price is in a consolidation as the range of Rs 46,620-47,600 is yet to be breached decisively. For the day, Rs 47,280 is the key resistance, followed by Rs 47,600. Similarly, on the downside Rs 46,700 (-2 SD) lower Bollinger band would act as key support, followed by Rs 46,620. The momentum oscillator RSI (46) is hovering around the neutral zone (50), suggesting a sideways trend. On the other hand, the rebound in fast stochastic from the oversold territory has negated bearish bets. So for the day, the price is expected to move in the range of Rs 46,700-47,280 with a sideways bias. Only a close above Rs 47,280 would extend the upside towards the next key resistance at Rs 47,600. Trading Range: Buy MCX Gold Oct at Rs 46,800. Target price: Rs 47,280. Stop loss: Rs 46,600 MCX Silver futures remained in a sideways range on Wednesday....

In the spot market, highest purity gold was sold at Rs 47,255 per 10 gram while silver was priced at Rs 63,081 per kg on Wednesday, according to the Indian Bullion and Jewellers Association.

Brent crude oil fell 13 cents, or 0.2%, to $75.33 a barrel by 0128 GMT, after settling up 2.5% the previous day. US West Texas Intermediate (WTI) crude slipped 12 cents, or 0.2%, to $72.49, after settling 3.1% higher on Wednesday.