Gold Price Today: On Monday, both the metals were trading at a good pace. In the Indian futures market, gold was rising by around Rs 250 and silver was rising by more than Rs 1300.
Gold Price Today: Gold and silver prices seem to be rising again on Monday (May 27). With the beginning of last week, gold and silver had made a record high, but after this a big correction also came here. Gold has become cheaper by more than Rs 2,000. But on Monday both the metals were trading at a good pace. In the Indian futures market, gold was rising by around Rs 250 and silver was rising by more than Rs 1300.
What are the rates of gold and silver on MCX?
On MCX (Multi Commodity Exchange), gold was trading at Rs 71,496 with a rise of Rs 240 (0.34%) around 10 am. On Friday it closed at Rs 71,256 per 10 grams. During this period, silver was trading at Rs 91,900 per kg with an increase of Rs 1352 or (1.49%). In the last session it had closed at 90,548.
Softness in global markets
Gold’s rally also seems to be ending amid fading hopes of interest rate cuts by the US Federal Reserve Bank. Gold had risen slightly in Friday’s trading, but it has fallen the most in the last five and a half months. For the first time since December, it fell by 3% last week. Gold had reached $2,449 on Comex last week, but till now it has fallen by $100.
After the fall in the dollar in the global market, spot gold rose by 0.2 percent to reach $2,332.77. Whereas US Gold Futures fell 0.1 percent to $ 2,334.50.
Bullion market also declined
If we look at the rates of bullion market, a decline was visible here also. Amidst the weak trend in global markets, gold prices fell for the third consecutive day on Friday and fell by Rs 900 to close at Rs 72,650 per 10 grams. In the last trading session on Thursday, gold fell by Rs 1,050 and closed at Rs 73,550 per 10 grams. Earlier on Wednesday, there was a slight fall of Rs 50 in the rupee.
According to HDFC Securities, gold fell for the third consecutive day after stronger than expected US economic data. The data strengthened the belief that the US Federal Reserve will keep interest rates high for a long time. Meanwhile, the price of silver fell by Rs 500 and closed at Rs 92,100 per kg. In the last trading session it had closed at Rs 92,600 per kg.
