On the last day of the week, the prices of both the major precious metals gold and silver have declined in the domestic market. The prices of both precious metals on MCX have fallen in Friday’s trading.
Today gold and silver prices on MCX
Today, a decline of about 0.33 percent is being seen in the gold future contract for delivery on October 4 on MCX. In futures trade, gold was trading at Rs 75,141 per 10 grams with a loss of Rs 246. Similarly, the silver futures deal for delivery on December 5 was also trading at a loss. Today the price of silver has fallen by Rs 549 (about 0.59 percent) on MCX and the price has come to Rs 92,115.
This is the reason for today’s decline
In fact, there has been a tremendous rise in the prices of both the precious metals in the past few days. A day ago, the prices of both gold and silver had reached record levels. After that, due to high level of pressure, some correction is visible today. However, analysts believe that the prices of gold and silver are going to remain strong in the coming days also. Gold will continue to be supported by interest rate cuts and geopolitical tensions, while industrial demand for silver remains strong.
Condition of gold and silver in foreign market today
Gold future (December 2024 contract) on Commodity Exchange Center i.e. Comex was trading at $ 2,687.30 an ounce with a decline of 0.25 percent. Similarly, silver (Silver Comex December 2024 contract) was trading at $ 32.096 an ounce with a loss of 0.78 percent.
The price increased so much in a week
There has been a tremendous rise in the prices of both gold and silver since last week. In the last one week, an increase of about Rs 2,000 has been seen in the prices of gold, while during this period the price of silver has increased by Rs 2,300.
Gold Price Today in major cities:
Chennai: Rs 77,031 per 10 grams
Delhi: Rs 77,183 per 10 grams
Kolkata: Rs 77,035 per 10 grams
Mumbai: Rs 77,037 per 10 grams
Silver Price Today in major cities:
Chennai: Rs 1,03,600 per kg
Mumbai: Rs 97,500 per kg
Delhi: Rs 98,000 per kg
Kolkata: Rs 98,800 per kg
Also read: New update on Sovereign Gold Bond, government said – decision will be taken as per need.