Amid severe selling in the Indian stock market, a decline in the prices of gold and silver has also been seen. Generally, there was a trend that when the market falls, gold rises. But Trump’s statements and the ongoing global tension have changed the entire equation. Today the prices of gold and silver fell in the country. Both gold and silver have become cheaper. The price of silver fell by 5%, gold became cheaper by 1.5%. Silver decreased by Rs 11 thousand to Rs 2 lakh 32 thousand/kg. At the same time, the price of gold has increased to Rs 1 lakh 51 thousand 450 per 10 grams.
Spot silver in international markets fell 2.9% to $72.95. Gold also traded at low prices; Spot gold was down 1.3% at $4,694.48 an ounce by 0202 GMT, while USgold futures slipped 1.9% to $4,723.70. At the beginning of the session, gold prices were up more than 1% and reached their highest level since March 19, but they fell after Trump’s speech. Pressure was also seen on other precious metals. Platinum fell 1.8% to $1,928.26, while palladium fell 1.4% to $1,451.85.
Gold and silver prices in futures market
On one hand, there is a decline in the prices of gold and silver in the spot market. On the other hand, the prices of gold and silver have also decreased in MCX i.e. futures market. The price of silver on MCX fell by 5.6% i.e. about Rs 13,613 to Rs 2,29,888 per kg, while the price of gold on MCX fell by 1.65% i.e. about Rs 2,547 to Rs 1,51,161 per 10 grams.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money-related decisions.