Gold And Silver Price Update: Due to the volatility in the global market, there was a big fall in the prices of gold and silver on Wednesday morning. Silver has once again come down below 56 thousand, while gold is trading above 50 thousand.
On the Multicommodity Exchange (MCX), the futures price of 24 carat purity fell by Rs 116 to Rs 50,245 per 10 grams in the morning. Earlier, trading in gold had started openly at the level of 50,300, but due to weakness in demand, soon the prices started showing a decline.
Gold is trading today at a decline of 0.23 percent from its previous closing price.
On the lines of gold, there is a big fall in the prices of silver in the futures market today. On MCX, silver futures fell by Rs 521 to Rs 55,570 per kg in the morning. Earlier, trading in silver started openly at the level of 55,681. However, today there is a big fall in the prices and silver has come down to 56 thousand. Right now silver is trading around 0.93 percent below its previous closing price.
Many big economic events are happening in America at this time. On the one hand, the dollar has reached a 20-year high, which is increasing the pressure on the price of gold. On the other hand, inflation is also at the peak of 41 years and investors have shifted away from gold. However, as soon as the pressure of the Russo-Ukraine war in the global market eases, gold prices will rise again. Experts say that till the dollar does not soften in the global market, the pressure on gold will continue.
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