Todays Gold-Silver Price: Fall in Gold-Silver Price; Profit recovery of investors
- Gold breaks after six-day rally
- Weaknesses in platinum and palladium also
- Silver fell around 2% to Rs 2,62,892 per kg
Today’s Gold-Silver Price: Today, Thursday, February 26, gold and silver prices fell in commodity markets. Silver on MCX fell around 2% to Rs 2,62,892 per kg. Meanwhile, gold fell 0.4% to Rs 1,60,516 per 10 grams. Gold-silver rates rose to record highs in the previous session, which led to profit-taking by investors, which has seen pressure on the market today.
In international markets, spot silver was trading at $88.84 an ounce, down 0.6%. Silver hit a three-week high in the previous session. Meanwhile, spot gold rose slightly to $5,183.85 an ounce. US gold futures fell 0.5% to close at $5,200.50 an ounce.
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Geopolitical tensions have also affected the market. Gold prices fell today after rising nearly 6% over the past six sessions. Despite this, uncertainty surrounding US military deployments in the Middle East limited declines in precious metals prices. Investors are also eyeing talks in Geneva today to resolve the long-running nuclear standoff between Iran and the US. Other precious metals also showed weakness. Platinum fell 0.5% to $2,274.16 an ounce, while palladium fell 1.4% to $1,770.05 an ounce. Both metals hit three-week highs in the previous session.
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Investors are also keeping an eye on today’s weekly jobless claims data, which will provide an indication of the US Federal Reserve’s monetary policy stance. In the previous session, MCX gold April futures closed up 0.74% at 1,61,145 per 10 grams. Meanwhile, silver March futures closed up nearly 3% at ₹2,68,316 per kg. Today’s Indian stock market also opened in the green. So investors have mixed feelings. On the one hand, there is an atmosphere of happiness among consumers due to falling gold and silver prices.
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