Thursday, February 29th, 2024

Gold Price: The price of gold and silver took a turn, the price remained this much in Delhi, know the movement of future market

Photo:FILE At the international level, gold futures went above zero.

The weakness of global cues slowed down the prices of gold and silver on Thursday. According to HDFC Securities, the price of gold in the national capital Delhi fell by Rs 30 to Rs 62,170 per 10 grams. In the last trade, yellow metal i.e. gold had closed at Rs 62,200 per 10 grams. Silver price also remained stable at Rs 76,400 per kg in Delhi for the second consecutive session. Saumil Gandhi, senior commodity analyst at HDFC Securities, said gold prices traded slightly negative on Thursday, falling by Rs 30 from the previous close.

gold in international market

Gold and silver fell in the international market. In international markets, gold and silver fell to $ 1,994 an ounce and $ 23 an ounce. Gandhi said that gold has declined due to increase in treasury yields after the latest US data. That leaves consumers expecting inflation to continue, while traders assess a number of reports this week to gauge the Federal Reserve’s next moves on the monetary policy outlook.

Gold and silver in futures trading

In futures trade, the December contract of gold on MCX rose by Rs 48 to Rs 61,072 per 10 grams. Similarly, the December contract of silver on the exchange jumped by Rs 114 to Rs 72,940 per kg. Due to strong spot demand, participants increased their deals due to which the price of silver rose by Rs 50 to Rs 74,525 per kg in futures trade on Thursday.

Speculators bought fresh deals due to which the price of gold rose by Rs 96 to Rs 61,120 per 10 grams in futures trade on Thursday. Analysts said the rise in gold prices was driven by fresh positions being created by participants. At the international level, gold futures went above zero.

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