Due to a big fall in the global market, the futures price of gold went down below 51 thousand this morning.
Despite being the season of weddings, there is a big drop in gold and silver prices. Experts say that after the strengthening of the dollar and the Fed Reserve’s indications of increasing interest rates, the prices of gold continue to fall.
Due to the slowdown in the global market, there was a big fall in the prices of gold and silver on Thursday morning. Gold fell below Rs.51 thousand per 10 grams, while silver is being sold for less than Rs.64 thousand.
On the Multicommodity Exchange (MCX), the futures price of 24 carat purity gold fell by Rs 242 to Rs 50,957 per 10 grams this morning. This price of gold is based on the bid of June 5. Earlier, the price of gold on the exchange was opened at Rs 51,089 per 10 grams. Gold prices have continued to fall for the last several trading sessions. If seen, gold is selling cheaper by about Rs 5,000 from its peak.
Silver also lost its luster
on MCX, there was a big fall in silver prices this morning. The June futures price of silver fell by Rs 780 to below 64 thousand. Silver was selling at Rs 63,900 per kg in morning trade. Earlier, the price of silver on the exchange opened at Rs 63,966. Silver prices have also shown a steady decline in the last few trading sessions.
Gold in the global market At a two-month low,
there has been a big fall in the spot price of gold in the global market. Gold is currently selling at a two-month low. In today’s trade, the spot price of gold fell by 0.20 percent to $ 1,882.49 an ounce. This is the lowest level of gold since February 24. Earlier, the futures price of gold in the US market also fell 0.40 percent to $ 1,881.40 an ounce.
In the global market, the price of silver has also fallen and the spot price fell 0.10 percent to $ 23.26 an ounce in today’s trading. Apart from silver, the price of platinum decreased by 0.40 percent and it is selling at $ 914.17. Palladium also became cheaper by 1.2 percent at a price of $ 2,228.75.
