Fall in the price of gold and silver



Gold and Silver Price Update: After a good recovery in the world market, pressure is exerted on gold and silver prices. Today at 10 a.m., gold futures on MCX were down 148.00 points or 0.29%. Up to that time it was trading at 51,455. Silver was also down 465.00 points up to the same time, meaning the metal was down 0.82% at 55,978.

Today’s prices are based on futures trading on MCX. These are the rates for the gold futures contract on October 5, 2022 and the silver contracts expiring on September 5, 2022.

According to information from HDFC Securities, yesterday (Thursday) a fall in gold and silver prices was recorded in the gold market in India. Ten grams of gold became cheaper at Rs 52,224, while the price of one kg of silver also fell and now it was selling at Rs 57,298.

There is pressure on gold and silver prices in the international market. Gold is at the $1752 per ounce level and silver at the $19.35 level. Spot gold is currently at its lowest level in three weeks. Due to the strengthening of the dollar, the pressure on prices is visible. The dollar index is currently up 0.20% to a level of 107.63. The dollar is believed to be strengthening due to the announcement of a repo rate hike by the US Federal Reserve.

Read also – Today’s Stock Market Update: Today’s Top Gainers

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