There is good news for people planning to buy gold. The price of gold has fallen for the seventh consecutive day due to weak global cues. On Friday, the price of June futures gold on Multi Commodity Exchange (MCX) is trading down by 0.12 percent. However, today the futures price of silver is seen to be fast. In May, the price of futures silver has gone up by 0.10 percent.
Gold Price on MCX: On Friday on the Multi Commodity Exchange, the price of June futures gold fell by Rs 57 to Rs 46,669 per 10 grams. In the last trading session, gold had closed down by 0.75 per cent. The record high in August 2020 is just Rs 10,000 less than Rs 56,200 per 10 grams.
Silver Price on MCX: May futures on MCX are trading at Rs 67,544 per kg, with the price of silver rising by Rs 70. In the previous session, it had fallen by -.6 per cent.
Explain that due to increase in US Treasury bond yields in 2020, gold has lost its sheen. This year also there is pressure on gold prices. In August 2020, the price of gold reached an all-time high of Rs 56,200 per 10 grams, while silver reached Rs 80,000 per kg.
US Treasury bond yields surge, pressure on gold
On Thursday, the US Treasury Bond Yields reached a height of more than two weeks, putting pressure on gold in the international market. Spot gold fell 0.2 per cent to 1,767.12 per ounce.
Spot market price
Gold fell by Rs 61 and silver by Rs 1,776 on Thursday due to the fall in the dollar. The closing price of gold was Rs 46472 per 10 grams in Delhi Bullion Market with a rise of 61 rupees. At the same time, silver rose by Rs 1776 to close at Rs 68785 per kg.
read this also-
read this also-
The postappeared first on .