Gold and silver futures prices showed volatility this morning under the pressure of the global market.
While the price of gold has decreased on MCX, silver has become expensive. For the past few sessions, the futures price of gold and silver was showing an increase.
Due to the slowdown in the global market, there was a big fall in the price of gold on Friday morning. After rising in the last two sessions, the rate of gold came down to 51 thousand today. However, a rise of Rs 144 is being seen in the price of silver today.
On the Multi Commodity Exchange (MCX), the futures price of 24 carat purity fell by Rs 108 to Rs 50,700 per 10 grams on the Multi Commodity Exchange (MCX) this morning, while the price of gold remained steady for the last few sessions.
On Thursday morning, there was a jump of more than Rs 600 in the futures price of gold. This morning gold opened at a price of 50,675 and fell 0.21 percent to Rs 50,700 per 10 grams.
Slight increase in
silver The trend of increase in silver prices continued even today. On Friday morning, silver futures on MCX rose by Rs 144 to Rs 62,480 per kg. On Thursday, the futures price of silver had climbed more than Rs 1,700 in early trade. This morning, silver started trading openly at Rs 62,086, but after a while it rose 0.23 per cent to Rs 62,480 per kg.
The pressure created by the
global market In the global market also today gold has become cheaper and silver has become expensive. In the US market, the spot price of gold fell by 0.05 percent to $ 1,875.90 an ounce this morning,
while the spot price of silver was down 0.14 percent to $ 22.49 an ounce. Last month, the spot price of gold in the global market reached up to $ 2,000 an ounce and the spot price of silver reached $ 27 an ounce.
Gold weakened by the weakness of the dollar, the
US Fed Reserve increased its interest rates by 0.50 percent, due to which the dollar started weakening in the global market and the price of gold increased. Powell, the head of the Fed Reserve, has said that there is also a possibility of increasing interest by 0.75 percent.
Earlier, there was a big fall in the prices of gold and silver in the Indian market. Since April 18, gold had become cheaper by about Rs 2,500 per 10 grams, while silver had slipped by Rs 8,800.
