There was a big fall in the prices of gold and silver, pressure due to economic challenges in global markets, know how much the prices decreased.
Delhi. Gold prices fell by Rs 2,225 to Rs 1.56 lakh per 10 grams in futures trade on Monday amid weak trend in foreign markets and strengthening of the US dollar. On the Multi Commodity Exchange (MCX), gold contracts for delivery in April fell by Rs 2,225, or 1.4 per cent, to Rs 1,56,241 per 10 grams. During this period, 7,881 lots were traded.
Manav Modi, Analyst (Commodity), Motilal Oswal Financial Services, said, “The US dollar strengthened due to rise in energy prices and this increased concerns that the US Federal Reserve may postpone cutting interest rates, which led to the decline in gold prices.” In the international market, gold futures for contracts for delivery in April on Comex fell by $ 54.31, or 1.07 per cent, to $ 5,007.39 an ounce.
Silver futures price fell by Rs 4,232 due to weak demand
Silver prices fell by Rs 4,232 to Rs 2.55 lakh per kg in futures trade on Monday due to weak domestic demand and strengthening of the US dollar. On the Multi Commodity Exchange (MCX), silver contracts for delivery in May fell by Rs 4,232, or 1.63 per cent, to Rs 2,55,203 per kg. During this period, 5,787 lots were traded.
Analysts said weak retail demand in the domestic market as well as macroeconomic challenges in the global markets remained under pressure on silver prices. Globally, Comex silver futures for delivery in May fell US $ 1.28, or 1.58 per cent, to US $ 80.06 an ounce.
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