For the people who are thinking of buying gold and silver, a big relief news has come from the market today i.e. on Wednesday (June 3). Today, softening of gold and silver prices is being seen in both domestic and international markets. If you are also planning to go to the bullion market today, then immediately know at what price these precious metals are trending in your city and futures market.
A decline has been recorded in the price of gold today on the Indian futures market i.e. MCX. At the time of writing the news, the price of gold on MCX has fallen by 0.07 percent to Rs 1,59,240 per 10 grams. Not only gold, but even silver has lost its shine today. Silver prices have fallen by 0.30 percent today, after which the price of one kilogram of silver remains around Rs 2,65,870.
The shine of gold and silver faded in the international market also
Today, there is a downward trend in the future prices of gold and silver in the domestic market as well as in the global market. Today on the international market Comex, gold was trading at a price of $ 4,500.40 an ounce with a fall of $ 19.20. Let us tell you that the price of gold had created its highest ever record this year by touching the level of $ 5,586.20. On the other hand, the future price of silver on Comex has also fallen by $ 0.53 today to the level of $ 75.02 per ounce.
Record surge was seen in the bullion market on Tuesday
Even though there may be a slight slowdown in the prices today, just a day before this i.e. on Tuesday, the prices of gold and silver had touched the sky in the bullion market of the capital Delhi. Due to weak dollar and softening of crude oil prices, the demand for these precious metals suddenly increased a lot yesterday.
According to All India Sarafa Association data, on Tuesday, the price of gold of 99.9 percent purity had increased by Rs 1,050, taking its price to an all-time high of Rs 1,61,450 per 10 grams (including all taxes). Earlier on Monday, it had closed at Rs 1,60,400. Yesterday, silver prices also strengthened by Rs 1,300 and it increased from Rs 2,69,700 to Rs 2,71,000 per kg.
Why is the movement of gold and silver changing?
Major market analysts and experts say that gold and silver have got a lot of support due to the fall in the prices of crude oil in the international market. Due to falling crude oil prices, the fear of inflationary shock arising from the ongoing tensions in West Asia (Middle East) has now reduced a bit. This is the reason why there is a period of continuous ups and downs in the market and the eyes of investors are fixed on the global situation changing every moment.
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