There is a big fluctuation in the prices of gold and silver today. While the rate of gold has come down in the global market today, it is seen on the rise on MCX. The rate of silver has also declined in the global market today and this silver has become cheaper in the Indian bullion market.
Due to the ongoing volatility in the global market, the Indian bullion market also showed a jump on Tuesday. The price of gold has once again increased to close to 51 thousand.
On the Multicommodity Exchange (MCX), the futures price of 24 carat purity gold rose by Rs 40 to Rs 50,947 per 10 grams in the morning. Earlier, the price of gold opened at Rs 50,940 and soon it started showing a jump of 0.08 percent due to increase in demand. Earlier, the price of gold had come down below 50 thousand, but due to the increase in demand in the global market, there was a jump again.
The rise in the price of silver:
While the price of gold has seen a rise today, the price of silver is showing a decline today. In the morning, silver futures on MCX fell by Rs 154 to Rs 61,144 per kg. Earlier, silver opened at Rs 61,349 and came down to close to 61 thousand with a loss of 0.25 per cent. Silver was running above 70 thousand at the beginning of this month.
The condition of the global market:
Gold and silver prices have shown a fall in the global market this morning. In the US bullion market, the spot price of gold fell 0.14 percent to $ 1,851.26 an ounce this morning. Apart from this, the spot price of silver also fell 0.20 percent to $ 21.71 an ounce. Till last month, the rate of gold in the global market had reached $ 2,000 per ounce and silver had reached $ 27 per ounce.
The rise in the price of silver:
While the price of gold has seen a rise today, the price of silver is showing a decline today. In the morning, silver futures on MCX fell by Rs 154 to Rs 61,144 per kg. Earlier, silver opened at Rs 61,349 and came down to close to 61 thousand with a loss of 0.25 per cent. Silver was running above 70 thousand at the beginning of this month.
The condition of the global market:
Gold and silver prices have shown a fall in the global market this morning. In the US bullion market, the spot price of gold fell 0.14 percent to $ 1,851.26 an ounce this morning. Apart from this, the spot price of silver also fell 0.20 percent to $ 21.71 an ounce. Till last month, the rate of gold in the global market had reached $ 2,000 per ounce and silver had reached $ 27 per ounce.
Therefore, rising gold rates
the reason for the increase in the price of gold in the domestic bullion market is the wedding season and the increasing demand. However, at the beginning of the Russo-Ukraine war, gold had reached close to 57 thousand under the pressure of the global market. If we talk about the global market, now the dollar is returning to strength, which has increased the pressure on the price of gold. Investors are moving to invest money in currency like dollar and the demand for gold is decreasing. Due to this gold is getting cheaper in the global market.
