Today’s Gold and Silver Rate: After two sessions of rise, gold and silver prices declined on Tuesday. Gold became cheaper by Rs 960 to Rs 1.57 lakh per 10 grams. At the same time, the price of silver fell by Rs 2640 to Rs 2.61 lakh per kg. Due to the recovery of the US dollar from its lowest level of more than a week, there was pressure on precious metals. Investors are awaiting key US employment and inflation data to be released this week for clues on the direction of interest rates.
Price of gold and silver in international market
Spot gold fell 1% to $5,016.56 an ounce. Earlier, gold had risen 2% in the previous session due to weakness in the dollar. On January 29, gold had touched a record high of $ 5,594.82 an ounce. At the same time, US gold futures for April delivery fell 0.8% to $ 5,041.60 an ounce. A sharp decline was also seen in the prices of silver. Spot silver fell 2.5% to $81.31 an ounce, after rising nearly 7% in the previous session. On January 29, silver reached an all-time high of $ 121.64 an ounce.
Price of gold and silver in bullion market
In the bullion market on Monday, the price of silver jumped by 6.66 percent to Rs 2.72 lakh per kg. Similarly, the price of gold of 99.9 percent purity also increased by Rs 1,300 and reached the level of Rs 1.58 lakh per 10 grams.
Rise in gold and silver on MCX
Gold and silver prices were seen strong in the domestic market on Monday. On MCX, MCX Gold for April futures closed at Rs 1,58,394 per 10 grams, up by Rs 2,943 or 1.89%. At the same time, MCX Silver for March futures rose by Rs 12,853 or 5.14% and closed at Rs 2,62,745 per kg.
