Since the Federal Reserve's decisions related to interest rates, there has been continuous fluctuation in the prices of gold and silver in the bullion market. However, market experts also predict that there may be a huge rise in the prices of gold and silver in the coming days. Not only this, experts even claim that by the coming festive season or Diwali, gold can break all its previous records and cross ₹ 1.80 lakh per 10 grams. In such a situation, it is very important to know how the movement of gold and silver has been in the market today on the first trading day of the week. Let us know the latest update.
Gold and silver prices fell in the international market
If we look at the international market (Comex) on the first trading day of the week i.e. Monday, September 21, a decline has been recorded in the prices of both gold and silver. According to COMEX data, till the time of writing the news, gold was seen trading at a level of $ 4401.30 an ounce with a decline of 0.53 percent. On the other hand, the price of silver also softened by 0.48 percent and was seen trading around $ 66.825 an ounce.
What is today's situation on the domestic market (MCX)?
The impact of the international market is clearly visible on the domestic bullion market as well. With the start of trading today on Multi Commodity Exchange (MCX), both gold and silver have fallen. On MCX, gold for October delivery fell by Rs 670 and was seen trading at around Rs 1,53,740 per 10 grams. At the same time, there was a big weakness in the futures price of silver and it fell by more than Rs 1000 and reached around ₹ 2,40,868 per kg.
What are the latest rates prevailing in the bullion market of India?
With the opening of the market today i.e. on 21st September, gold prices have fallen in the spot markets of India. According to the latest data, 24 carat gold is trading around ₹ 1,53,530 per 10 grams in the country, while the price of jewelery i.e. 22 carat gold remains around ₹ 1,41,653 per 10 grams. Apart from this, 18 carat gold is trending at around ₹ 1,15,898 per 10 grams. Whereas, if we talk about silver, it has been seen trading around ₹ 2,40,640 per kg in the Indian bullion market.
Meanwhile, the biggest question is what will happen next amid this slight decline? Famous brokerage firm Jefferies has made a big claim that in the coming few months, gold price at the international level can cross $ 10,000 per ounce, which according to Indian currency comes to about Rs 3.08 lakh per 10 grams. In such a situation, although the current fall may be giving relief to the buyers, the prices may skyrocket in the coming days.