Today’s Gold and Silver Rate: There was a decline in the prices of gold and silver on Monday. According to the bullion website, the price of silver fell by Rs 7940 to Rs 2.38 lakh per kg. At the same time, the price of gold fell by Rs 1250 to Rs 1.55 lakh per 10 grams.
Gold and silver price on MCX
- In the last trading session, March expiry silver rose by ₹7,280 (3.08%) to reach ₹2,43,715 per kg.
- Whereas gold with April expiry became costlier by ₹ 2,819 (1.84%) and closed at ₹ 1,55,655 per 10 grams.
- This sharp rise in prices has again created a buying environment in the market, although the high prices have also made buyers cautious.
Condition of gold and silver in international market
On the other hand, slight profit-booking was seen in the global market on Monday 16 February. Spot gold fell nearly 0.27% to $5,033 an ounce during Asian trading, while spot silver fell more than 2% to $76.34 an ounce.
cause of fluctuations
According to experts, the 0.2% softening in the US Consumer Price Index (CPI) in January has reduced concerns about inflation and strengthened the expectation of interest rate cuts by the Federal Reserve. Low interest rates are generally considered positive for non-yielding assets like gold and silver.
Gold reached a record high above $5,600 an ounce in late January, but a sharp selloff in early February sent prices falling below $4,500. At present, amid volatile trading, gold has recovered almost half of its losses, due to which there is uncertainty about the future direction in the market.
