Today’s Gold and Silver Rate: There was a decline in the prices of gold and silver on Thursday. Gold became cheaper by Rs 660 to Rs 1.58 lakh per 10 grams. Whereas silver fell by Rs 1200 to Rs 2.62 lakh per kg.
On Thursday, silver prices on MCX rose by four percent to Rs 2.62 lakh per kg. A rise of Rs 1,957 was seen in the prices of gold. Gold rose 1.25% to Rs 1.58 lakh per 10 grams.
Price of gold and silver in domestic market
Last day on Wednesday, there was a strong rise in the prices of silver and it jumped by Rs 4,000 to reach the level of Rs 2.68 lakh per kg. At the same time, the price of gold also remained strong and it crossed Rs 1.61 lakh per 10 grams.
Price of gold and silver in international market
Spot gold fell marginally to $5,080 an ounce, while spot silver fell 2 percent to $82.2 an ounce. Gold and silver prices fell slightly in Asian trade on Thursday after strong US labor market data. Strong jobs data suggested the US central bank the Federal Reserve may not cut interest rates in the near future, putting pressure on the precious metal.
- Gold has so far fallen 10.4 percent from its record high of $ 5,608.35 an ounce.
- At the same time, silver still remains about 48 percent below its all-time high of $ 121.67 an ounce.
- Earlier, on January 30 and February 2, gold had seen a sharp fall in two consecutive sessions.
- This decline came at a time when US President Donald Trump had announced his nominee for the post of Federal Reserve Chair.
- However, despite the recent fall, gold has gained 17.5 percent so far this year due to geopolitical tensions and global economic uncertainty.
