There are not even 24 hours left for Karva Chauth and there is good news for the common people regarding gold and silver. In fact, the prices of gold and silver in the futures market of the country have come down from the record high. Gold and silver prices had reached record levels from the international market to India. Due to which profit booking is being seen from investors on Thursday. Apart from this, there is some other reason.
Experts believe that no change has been seen in geo-positive and trade tensions. Both remain the same. While the dollar index is also declining. The benefit of which should be given to the prices of gold and silver. But this is not happening. Now investors have started taking profits from gold and silver. Due to which a decline in prices is being seen. Let us also tell you what the prices of gold and silver have become from the international market to the futures market of India.
How much did gold become cheaper on MCX?
Even though the prices of gold have increased by more than 50 percent in the futures market of the country in the current year, a big decline is being seen in the prices of gold before Karva Chauth. At 11 am, the price of gold is falling by Rs 129 to Rs 1,23,080 per ten grams. Whereas during the trading session, the price of gold fell by Rs 1,098 to Rs 1,22,111. However, a day ago the price of gold had closed at Rs 1,23,209. On Wednesday, gold prices had reached a record level of Rs 1,23,450. If we look at it accordingly, gold has become cheaper by Rs 1,339 on Thursday.
Silver prices also decreased
On the other hand, a significant decline has also been seen in the prices of silver. According to the data of Multi Commodity Exchange, silver prices have fallen far below the record level. At 11 am, silver prices fell by Rs 887 and were trading at Rs 1,48,968 per kg. Whereas during the trading session, the price of silver came down by Rs 5,955 and reached the day’s lower level of Rs 1,43,900. However, a day earlier i.e. on Thursday, silver prices had reached a record level of Rs 1,50,282. This means that a fall of Rs 6,382 has been seen in the prices of silver.
Gold becomes cheaper in foreign markets
If we talk about foreign markets, there is a decline in gold prices there too, but the prices still remain above the level of $4000. In the Comex market, gold futures are trading at $ 4,055.10 per ons with a fall of $ 15.40. The special thing is that in the current year there has been an increase of about 55 percent in the prices of gold futures. On the other hand, gold spot prices remain above 4 thousand dollars. If we look at the data, gold spot prices are trading at $ 4,036.19 per ounce with a fall of about $ 6 per ounce. A decline in gold prices is also seen in the European market and the price has fallen by 10 Euros to 3,465.67 Euros per ounce. Apart from this, gold prices in Britain are seen falling by more than 7 pounds per ounce and trading at 3,008.25 pounds.
Silver prices in foreign markets
On the other hand, if we talk about the prices of silver, there is an increase in the price of silver spot. According to Bloomberg data, silver spot has increased by 0.42 percent to $ 49.13 an ons. Whereas silver future prices are falling by more than 1 percent at $ 48.47 per ounce. An increase in silver prices is being seen in Europe and Britain. According to data from Europe, silver is trading at 42.1632 euros with an increase of 0.32 percent. In British markets, silver is up by 0.32 percent at 36.5865 pounds per ounce.