New Delhi. Despite the boom in the global market, the price of gold has declined in the Indian futures market today. However, silver prices are showing an upward trend. The price of gold has come down below Rs 50,500 while silver is being sold below 60 thousand. The price of gold has reached a two-week low.
On the Multicommodity Exchange (MCX), the futures price of 24 carat gold fell by Rs 109 to Rs 50,485 per 10 grams this morning. Earlier, trading in gold started openly at a price of Rs 50,549. But due to the slowdown in demand, soon its prices started showing a decline. Gold is currently trading at a decline of 0.22 percent from the previous close.
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Rise in the price of silver
While gold is trading by falling today, there is a rise in the futures prices of silver. On MCX, the futures price of silver rose by Rs 32 to Rs 59,536 per kg in the morning. Earlier, trading in silver started at Rs 59,513, but due to the increase in demand, it started showing a slight jump. Silver is currently trading at a gain of about 0.05 percent from the previous close.
What is the price in the global market
Today both gold and silver are seeing a jump in the global market. The spot price of gold in the US market was $ 1,824.89 an ounce, which is 0.01 percent higher than the previous close. Similarly, the spot price of silver is up 0.07 per cent from the previous close at $21.03 an ounce. Earlier, the price of gold was falling continuously in the global market.
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Gold price going to rise soon
Experts believe that the process of rising gold prices in the global market is going to start soon. Due to the fall in the 10-year bond yield of America and the softening of the dollar, now the demand for gold has started increasing again. If the yellow metal prices rise in the global market, then its direct effect will be visible on the Indian market as well. By the way, gold in the futures market of India is still estimated to remain above 50 thousand.
Tags: gold investment, Gold Price Today, Silver Price Today
FIRST PUBLISHED : June 24, 2022, 10:56 IST