A fall in gold prices was recorded in the country’s capital Delhi on Tuesday, while a rise in silver prices was seen. Gold fell by Rs 100 to Rs 78,600 per 10 grams. In the earlier session, it had closed at Rs 78,700 per 10 grams.
At the same time, the price of gold of 99.5 percent purity also decreased by Rs 100 to Rs 78,200 per 10 grams. On the other hand, the price of silver increased by Rs 500 to Rs 90,500 per kg. In the last trading session it had closed at Rs 90,000 per kg.
What is the condition of the futures market?
Movement was also seen in gold and silver futures trading on Multi Commodity Exchange (MCX). The gold contract for February delivery registered a rise of Rs 35, taking it to Rs 76,179 per 10 grams. However, the silver contract for March delivery fell by Rs 87 and closed at Rs 89,031 per kg.
global market stability
Not much change was seen in the prices of gold and silver at the international level. Comex gold futures remained steady at $2,628.30 an ounce, while Comex silver futures fell 0.13 percent to $30.15 an ounce.
What is the reason behind this?
Actually, due to Christmas holidays, trading volume remained calm this week as compared to last week. At the same time, the improvement in the US dollar put pressure on gold and silver prices. Understand it this way that the strength of the dollar in foreign markets puts pressure on gold prices. Because of this, sometimes its effect is also visible on the prices of gold in India.
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