Gold-Silver price today: There was a big change in the prices of gold and silver today. Due to sluggish demand in the domestic markets and recession in the global market, the price of gold fell by Rs 700 today. Gold reached the price of Rs 79,000 per 10 grams. On Friday, the price of gold was Rs 79,700 per 10 grams. On the other hand, an increase of Rs 300 was recorded in the price of silver. Silver became costlier by Rs 300 and reached Rs 90,700 per kg.
In the previous session, the white metal had closed at Rs 90,400 per kg. On Monday, Food and Consumer Affairs Minister Pralhad Joshi asked the Bureau of Indian Standards (BIS) to consider imposing mandatory hallmarking of silver and silver artefacts following demand from consumers. The minister said work in this direction has already started and the government will take a decision after consultation with stakeholders and completion of feasibility assessment by BIS. In overseas markets, Comex gold futures rose 0.18 percent to $ 2,659.60 an ounce.
Effect of strengthening dollar
Rahul Kalantri, Vice President (Commodities), Mehta Equities Ltd, said, “Gold and silver prices witnessed huge fluctuations last week, but still there was a significant improvement. This surge came despite challenges from a strengthening dollar and rising US bond yields. Kalantri said mixed economic news from the US and Europe provided some relief to the precious metals, while weak manufacturing activity in developed countries kept the safe haven. Boosted investment demand. Besides, Comex silver futures were trading 2.68 per cent higher at $30.87 an ounce in Asian market hours.
gold futures price fell
Gold prices fell by Rs 192 to Rs 77,125 per 10 grams in futures trade on Monday as speculators reduced the size of their deals amid weak global cues. In the Multi Commodity Exchange (MCE), the price of gold contract for delivery in the month of February fell by Rs 192, or 0.25 percent, to Rs 77,125 per 10 grams. 12,442 lots were traded in this. Market analysts said that gold futures prices fell due to weak trend in global markets.
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