On Thursday, gold fell by ₹431 to approximately ₹1.25 lakh on MCX, while silver also weakened, trading around ₹1.60 lakh. Precious metals continue to face pressure in both domestic and international markets.
Gold-Silver Rate today: On Thursday, a decline was recorded in the futures prices of both gold and silver. At the time of reporting, gold futures on MCX were trading around ₹1,25,500, and silver futures were approximately ₹1,60,900. Weakness is observed in precious metals in both domestic and international markets.
Weakness in Gold Futures Prices
On MCX, the benchmark December gold contract opened lower in the morning at ₹1,25,500, which is ₹431 less than its previous closing price of ₹1,25,931. During trading, gold fell by ₹451 to reach ₹1,25,480. It touched a high of ₹1,25,727 and a low of ₹1,25,351 during the session. This year, gold has touched the ₹1,31,699 level, which is its all-time high.
Silver Futures Prices also Fell
Silver futures also started with a decline. On MCX, the December contract opened at ₹1,60,601, which is ₹671 less than its previous closing price of ₹1,61,272. At the time of reporting, it was trading at ₹1,60,899. Silver touched a high of ₹1,61,000 and a low of ₹1,60,262 during the day. This year, silver has surpassed the high level of ₹1,69,200.
Pressure in International Market as well
On Comex, futures prices for both gold and silver also opened with a weak trend. Gold opened at $4,163.40 per ounce and shortly after fell by $20.70 to $4,144.50. This year, it has touched a high of $4,398.
Silver opened at $53.07 on Comex and was trading at $52.67 per ounce shortly after. It had touched an upper level of $53.76 during the year.
Indications for Investors
Both gold and silver are continuously showing volatility. The international market, dollar index, and global economic data are influencing the prices of precious metals. If you are considering investing in Gold or Silver, it is essential to keep an eye on current trends and future economic indicators.
