Gold-Silver Rate Today: Gold and silver prices continue to fall, silver slips by Rs 2,000, gold becomes cheaper by Rs 676

Gold-Silver Prices 12 Feb: On Thursday, February 12, a fall in the prices of gold and silver was seen on the Multi Commodity Exchange of India (MCX). This decline was mainly due to the strengthening of the US dollar and weakness in international bullion prices.

On MCX, gold price for April contract opened 0.47% lower at ₹1,58,000 per 10 gram, while the previous close was ₹1,58,755. Gold touched a low of ₹1,57,701 during the day. At present, the price of gold was trading at ₹1,58,079 per 10 grams, which shows a decline of ₹676 or 0.43%.

Silver prices continue to fall

The March contract rate of silver opened at ₹2,61,361 per kg, lower by ₹1,657 or 0.63%, compared to the previous close of ₹2,63,018. Intraday low of silver was recorded at ₹2,60,453 during the day. Currently, silver price on MCX was trading at ₹2,61,068 per kg, which shows a decline of ₹1,950 or 0.74%.

Fall in gold and silver in international market

Gold and silver remained weak in the international market also. The US dollar strengthened after better than expected jobs data in January, putting pressure on gold and silver. The strong dollar makes these metals expensive for foreign investors. This reduced expectations of a short-term interest rate cut by the US Federal Reserve.

Spot gold fell 0.4% to $5,058.64 an ounce, after rising more than 1% in the previous session. US gold futures for April delivery fell 0.3% to $5,080 an ounce. Similarly, spot silver fell 1.4% to $82.87 an ounce, after rising 4% in the previous session.

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Focus on US inflation data

Experts say investors are now focusing on US inflation data due on Friday, which will give an indication of the direction of monetary policy. The downward trend in gold and silver prices is due to strong January employment data and dollar rally.