North India Statesman
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News India Live, Digital Desk: Gold-Silver Rate: Today, the prices of both gold and silver have seen a decline in Indian markets, especially on the Multi Commodity Exchange MCX. This may be some relief news for investors and consumers who are planning to invest or buy in precious metals.
The price of gold August futures contract on MCX declined by 0.11%, causing it to ₹ 71,962 per 10 grams. At the same time, the October futures contract also recorded a decline of 0.08%, after which its price was ₹ 72,709 per 10 grams. This decline is the result of pressure on the price of gold in international markets.
Along with gold, silver prices have also seen softening. The September futures contract of silver on MCX saw a decline of 0.32%, causing it to ₹ 91,003 per kg. The December futures contract also declined by 0.28%, and its price increased to ₹ 93,299 per kg. This indicates that investors’ trend towards both major precious metals in the market is currently a little weak.
Gold prices are also under pressure in the international market comex. The spot gold spot gold) fell 0.06% to $ 2,324.93 an ounce, while December futures gold gold futures fell 0.04% to trading at $ 2,342.35 an ounce. Silver was also at $ 29.74 per ounce on comex.
The main cause of this decline in precious metals is the reinforcement of US dollar, high bond yields and a possible interest rate increase by the US Federal Reserve. When the dollar is strong, gold becomes expensive for the holders of other currencies, which reduces its demand. Also, when more returns on bonds are received, investors prefer to withdraw money from non-profit properties like gold and put it in bonds. For Indian customers, it is important to keep these international trends in mind, as they have a direct impact on domestic prices.
It is the best way to contact local jewelers or related websites to know the exact price of gold and silver in your city.
