Gold and silver prices declined in the domestic futures market on Wednesday amid a fall in spot demand. Gold futures on Multi Commodity Exchange (MCX) declined over Rs 500 to an early low at Rs 1,46,010 per 10 grams, while the silver futures contract declined over Rs 2,000 to a low of Rs 2,09,361 per kilogram.
MCX Gold On October 21
Gold futures for delivery on December 4 fell by Rs. 509 (0.35 per cent) to Rs. 1,46,010 per 10 grams on MCX.
Analysts attributed the decline in precious metals prices to weak spot demand and a dovish outlook ahead of the Federal Reserve’s policy. Globally, gold futures in New York fell 0.12 per cent to US$4,120.11 per ounce.
“Investors looked ahead to next week’s Federal Reserve policy meeting for clues on the future path of interest rates. In previous session, price has taken a support over 200-DEMA level, currently placed at 145,861. Key resistance would be at 147,415 – 147,900, said Aamir Makda, Commodity & Currency Analyst – Technical Research, Choice Broking.
24k, 22k Gold Rates
The reflection of the futures market is seen in the domestic retail market as well. According to bullion.co.in, 24 karat gold rate today is Rs 1,46,320 per 10 grams, while 22 karat gold rate today is Rs 1,34,127 per 10 grams.
20 karat gold rate today is Rs 1,21,933 per 10 grams, and 18 karat gold rate in India on October 21 is Rs 1,21,933 per 10 grams.
Gold Rate In Mumbai, Delhi And Other Key Cities
- Gold Rate Today In Delhi: 24k- Rs 1,45,800, 22k- Rs 1,33,650
- Gold Rate Today In Mumbai: 24k- Rs 1,46,050, 22k- Rs 1,33,879
- Gold Rate Today In Kolkata: 24k- Rs 1,45,860, 22k- Rs 1,33,705
- Gold Rate Today In Chennai: 24k- Rs 1,46,480, 22k- Rs 1,34,273
- Gold Rate Today In Bangalore: 24k- Rs 1,46,170, 22k- Rs 1,33,989
- Gold Rate Today In Hyderabad: 24k- Rs 1,46,280, 22k- Rs 1,34,090
MCX Silver Drags By Rs 2,100
Silver futures contract on the Multi Commodity Exchange (MCX), for December delivery declined by Rs 2,124, or 1 per cent, to a low of Rs 2,09,361 per kg in a business. The sell-off was mainly weighed on silver prices.
In the international market, the white metal was down 0.9 per cent to USD 57.38 per ounce in New York.