In India, there has been a noticeable decline in the prices of both gold and silver on Friday. The price of gold has fallen below ₹72,000, while silver rates have dipped to less than ₹85,000. This trend reflects a broader decline in global gold and silver prices, which is impacting the Multi Commodity Exchange (MCX) of India.
The recent fluctuations can primarily be attributed to a slight recovery in the dollar index. Consequently, gold prices in the COMEX market in New York have decreased. Experts suggest that until further U.S. data is released and the Federal Reserve announces its interest rates, a similar trend in gold prices may continue. Let’s delve into the current prices of gold and silver.
Gold Prices on the Decline
On the Multi Commodity Exchange, there has been a fall in the price of gold. According to data, at 10:30 AM, the price dropped by ₹293, reaching a level of ₹71,895 per 10 grams. During the trading session, gold prices experienced a decline of ₹332, touching a lower level of ₹71,856. This morning, gold opened at ₹71,900, in contrast to its closing price of ₹72,188 the previous day.
Current Gold Price Details
| Time | Price Change (₹) | Current Price (₹ per 10 grams) |
|---|---|---|
| 10:30 AM | -293 | 71,895 |
| Trading Session | -332 | 71,856 |
| Opening Price | – | 71,900 |
| Previous Day’s Closing Price | – | 72,188 |
Silver Prices Also Drop
Similarly, silver prices have seen a significant decline, falling below ₹85,000 per kilogram on the MCX. As of 10:30 AM, the price of silver has decreased by ₹542, trading at ₹84,330. During the session, silver saw a decline of ₹622, reaching a lower price point of ₹84,250. Silver opened today at ₹84,528.
Current Silver Price Details
| Time | Price Change (₹) | Current Price (₹ per kilogram) |
|---|---|---|
| 10:30 AM | -542 | 84,330 |
| Trading Session | -622 | 84,250 |
| Opening Price | – | 84,528 |
International Market Price Trends
Looking at the international markets, gold prices are also witnessing a decline in the New York COMEX. Data indicates that gold futures prices have dropped by $13.40 per ounce, trading at $2,546.90 per ounce. Meanwhile, the spot price of gold has decreased by $7.52 per ounce, currently at $2,513.88 per ounce.
Silver Prices in the International Market
Likewise, silver prices are following a downward trend in the COMEX market. The silver futures price has declined by 0.68%, currently standing at $29.79 per ounce, while the spot price for silver is down by 0.18%, trading at $29.37 per ounce.
As market dynamics continue to fluctuate, investors and traders should keep a close watch on economic indicators and global market trends to make informed decisions regarding gold and silver investments.
