Gold and Silver Rate: There has been a big change in the prices of gold in the gold global market on Friday. Let us tell you in detail.
Gold-Silver Rate: After a week’s rise, there has been a decline in gold prices on Friday. The main reason behind this is the rise in the US dollar. The US dollar has reached a two-month high against other currencies. For this reason, the pressure on gold prices has increased. In foreign markets, the spot rate of gold fell 0.2 per cent to $1,913.90 an ounce, while gold on Comex became cheaper by 0.26 per cent, or $5, at $1,942.10 an ounce. So far this week, gold has increased by about 1.3 percent. This is the first week this month when the price of gold has increased. On Thursday, the price of gold had reached its highest level since 10 August.
Silver also became cheaper – The world’s largest gold exchange-traded fund, SPDR Gold Trust, has reported that its holdings fell further on Thursday. It is at the lowest level since January 2020. Talking about the rest of the metals, spot silver became cheaper by 0.4 per cent at $24.04 an ounce and platinum remained steady at $933.68. Palladium fell 0.3 percent to $1,236.69.
Rupee slips against US dollar – The rupee on Friday lost its three-day rally and fell 12 paise to 82.68 against the US dollar in early trade amid a strong American currency and weak equity markets. At the interbank forex, the domestic unit opened weak at 82.60 and then declined as low as 82.69 against the greenback. Meanwhile, the dollar index rose 0.22 per cent to 104.21.
This is the price of metals on MCX
Talking about the Multi Commodity Exchange, gold futures to be delivered on October 5, 2023 came down by 0.14 per cent to Rs 58729 per 10 grams in the morning trade. Meanwhile, the price of silver to be delivered on September 5 fell by 0.30 per cent to Rs 73,350 per kg. Copper fell 0.11 per cent to Rs 731 and zinc fell 0.23 per cent to Rs 214.25.
