Gold and Silver Futures on 17 August 2021
On the MCX, gold futures were up 0.01% or Rs.7, to Rs.47,232 per 10 grams on Tuesday, 17 August 2021. At Rs.63,600 per kilogram, silver futures rose 0.23%, or Rs.143.
17 August 2021
Silver price down by Rs.255 on Tuesday
On Tuesday, the price of silver recorded a decline of 0.37 percent or Rs.255 per kilogram on the Multi Commodity Exchange (MCX). The drop in the rates saw a kilo of the white metal cost Rs.68,978. It needs to be mentioned here that in the spot market, silver was priced at Rs.68,204 on Monday. Globally, the precious metal was trading at $26.03 per ounce after easing by 0.2 percent.
Gold price also eased on Tuesday as a firmer dollar made the bullion expensive for holders of other currencies. Gold futures on the MCX were down 0.16 percent and 10 grams of gold cost Rs.46,934. In the international market, spot gold price and US gold futures were down by 0.2 percent each and was trading at $1,775.42 and $1,776.40 per ounce.
29 June 2021
Gold price today at Rs 48,310 per 10 gm, silver trending at Rs 71,600 a kg
The cost of 22 carat gold on Monday rose to Rs.48,310 for 10 gm from Rs.48,300 and silver was retailing at Rs.71,600 per kg.
The price of gold in New Delhi for 22-carat gold is at Rs.47,110 per 10 gm. The price of the yellow metal in Chennai grew to Rs.46,160. The cost in Mumbai was Rs.48,310.
The cost of 24-carat gold also saw a g growth of Rs.10 per 10 gram to Rs.49,310 on Monday from Rs.49,300 on the previous day.
The cost of silver remained flat at Rs.71, 600 per kilogram. The rupee dropped 8 paise to end at 72.99 against the US dollar on Friday.
Spot gold rose 1% to $1,889.27 per ounce. US gold futures grew 1% at $1,892.
07 June 2021
Silver price on the MCX plunge by 0.54 percent
On the Multi Commodity Exchange (MCX), silver futures were down by 0.54 percent or Rs.388.30 per kg on Wednesday. The drop in the rates meant a kilogram of the white metal cost Rs.71,908 per kg. In the international market, silver rate was down by 0.34 percent to cost $27.8 per troy ounce.
Gold price in India also plunged on the MCX. The rate was down by 0.08 percent and 10 grams of the yellow metal cost Rs.49,160. Spot gold price was up by 0.02 percent taking the value to Rs.47,910 despite global gold prices witnessing a decline of 0.02 percent. A troy ounce of global spot price cost $1,896.7. The dollar to rupee conversion today increased to Rs.73.1 from the previous close of Rs.72.9.
02 June 2021
Gold prices increase near to Rs.48,000 per 10-gram mark; silver prices rise
Silver and gold futures in the market were trading on a positive note on 23 April due to a weaker U.S. dollar value and the falling U.S. Treasury yields. U.S. President Joe Biden’s proposal to hike the capital tax gains prompted investors to shift to the bullion.
On the Multi Commodity Exchange, gold prices increased by 0.17% to Rs.47,853 per 10 grams. Silver prices also inclined by 0.16% to Rs.69,330 per kg. In the spot market, gold prices declined by Rs.168 to Rs.47,450 per 10 grams. Silver, on the other hand, increased by Rs.238 to Rs.69,117 per kg.
In the global market, spot gold increased by 0.2% to $1,781.11 per ounce. Silver prices, however, declined marginally by 0.3% to $26.10 per ounce.
23 April 2021
Silver prices fall by more than Rs.200; gold prices fall marginally
Silver prices dipped by Rs.216 to Rs.64,222 per kg compared to its previous closing price of Rs.64,438 per kg in the domestic markets due to a muted trend seen in the international market.
Gold prices declined marginally by Rs.15 to Rs.44,949 per 10 grams compared to its previous closing price of Rs.44,964 per 10 grams. According to sources, spot gold prices were down by Rs.15 due to a mute trend in trading.
In the international market, gold prices were also trading low at $1,727 per ounce and silver prices were trading flat at $24.78 per ounce.
06 April 2021
Delivery of silver could cross Rs.700 crore on the Multi Commodity Exchange
The silver futures contract was recently concluded on the Multi Commodity Exchange and the metal saw a delivery intention of 80.85 tonnes which was valued at Rs.545 crore. This could be a record for a single day as was seen on 8 March 2021.
The delivery intention of 80,850 kilos was seen on the Multi Commodity Exchange on 1 March in Ahmedabad and there are no clear intentions if the sellers are one or more. The contracts had expired on 5 March and according to data, from 1 March to 4 March, the intention of silver delivery was valued at Rs.725 crore in the contracts for March.
According to sources, the physical demand for silver was less due to a drop in demand in the industries in Tamil Nadu and the country due to higher prices. Due to this, traders are often known to deliver accredited silver bars on the exchange.
08 March 2021
Price of gold and silver rise by more than Rs.200 in the domestic market
Gold prices increase by Rs.278 to Rs.46,013 per 10 grams in New Delhi due to a weaker dollar and a positive trend seen in the international market. Gold prices had earlier closed at Rs.45,735 per 10 grams in the previous session.
Silver prices, as well, increased by Rs.265 to Rs.68,587 per kg compared to its previous closing price of Rs.68,322 per kg.
In the international market, gold prices were trading lower at $1,774 per ounce and silver prices as well were low at $26.94 per ounce.
22 February 2021
Gold declines Rs.118; silver falls Rs.875
Prices of gold slipped Rs.118 to Rs.49,221 per 10 gram in New Delhi on Wednesday on a weak global trend. The yellow metal had closed at Rs.49,339 per 10 grams previously. Prices of silver also dropped Rs.875 to Rs.63,410 per kg, from Rs.64,285 per kg.
In the international market, gold fell at $1,860 per ounce, while silver was slipped $24.22 per ounce.
Gold prices were trading under pressure due to strong equity indices as investors kept a close eye on the progress on COVID-19 vaccine approvals and its distribution.
09 December 2020
Silver rates fall in India on 17 November due to vaccine optimism
Silver futures prices for the month of December on MCX fell by 0.21% on 17 November and were at Rs.63,555 for a kg. According to SMC Global, silver rates in the international markets could range between $22.60 and $26.20. Gold futures prices for the month of December fell by 0.04% and were at Rs.50,810 for 10 grams. On 16 November, the prices of the yellow metal closed at Rs.50,830 for 10 grams. Silver and gold prices fell because of vaccine optimism. Spot gold prices in the international markets remained unchanged and were at $1,887.99 for an ounce. Gold futures prices in the US jumped by 0.1% and were at $1,888.70 for an ounce.
17 November 2020
Yellow metal holds above Rs 51,000; Silver down over 1%
The talks regarding the economic stimulus among US lawmakers faced a setback on October 21 when President Donald Trump accused the Democrats of being unwilling to craft a compromise on aid.
On the Multi-Commodity Exchange (MCX), December gold contracts were dropped by 0.46% at Rs.51,095 per 10 grams. December silver futures slipped 1.1% at Rs 62,899 per kg.
Gold settled at $1929.50 per troy ounce with a gain of 0.74% and silver settled at 25.24 per troy ounce.
The Dollar Index, dropped for a third straight day, losing 0.5% to hit a seven-week low of 92.46.
23 October 2020
Gold increases Rs.454, silver rises Rs.751
Price of gold grew by Rs.454 to Rs.51,879 per 10 gram in Delhi on Tuesday as the value of Indian Rupee dropped, according to HDFC Securities. The yellow metal had closed at Rs.51,425 per 10 gram on Monday. The price of silver also surged Rs,751 to Rs.63,127 per kilogram from Rs.62,376 per kilogram in the previous trade.
The rupee pared initial gains and finally settled at 17 paise lower at 73.46 against the US dollar on Tuesday after trading closed.
On the global markets, gold was traded marginally lower at USD 1,910 per ounce, while the white metal remained flat at USD 24.25 per ounce.
7 October 2020
Gold rates fall below Rs. 50,000, and silver reaches Rs.58,700
The prices of gold and silver had reduced tracking the international prices which has shifted sideways after a selloff during previous trading rally. On the Multi Commodity Exchange (MCX), the gold futures prices had dipped by Rs.550 (1.09%) and had reached Rs.49,831. The silver futures for December had reduced and reached Rs.58,681 from the previous price of Rs.61,213. The U.S. dollar had gained and this made the metals very expensive for everyone who held other currencies. At the level, the gold had then receded by 11.32% from an all-time high of Rs.56,191 which had been last month. The Comex gold futures had range bounded between $1,877.90 and $1,909.90. per ounce.
24 September 2020
Silver futures prices increase by Rs.510 on 15 September 2020
Silver futures prices for the month of September increased by Rs.510 and were at Rs.69,475 for a kg on 15 September 2020. On 7 August 2020, silver futures prices hit record highs and were at Rs.77,949 for a kg. In the international markets, the prices of silver reduced and were at $27.12 for an ounce. According to various commodity analysts, traders are looking forward to the outcome of the US Central Bank’s policy meeting that is scheduled on 15 September and 16 September. The tensions between China and India have dented hopes that the economy would recover faster. In times of financial and political uncertainties, there is a boost for safe-haven assets.
16 September 2020
Silver futures prices gain by Rs.108 on 16 September 2020
Silver futures prices on MCX for the month of September gained by Rs.108 and were at Rs.69,075 for a kg. Silver futures prices hit record highs on 7 August and were at Rs.77,949 for a kg. In the international markets, the prices of silver fell by 0.1% and were at $27.20 for an ounce. Gold prices increased for the third consecutive session in the country. The main reason for the increase in prices was a weak dollar. Gold futures prices for the month of October increased by Rs.166 and were at Rs.51,935 for 10 grams. On 7 August, gold futures prices hit record highs and were at Rs.56,191 for 10 grams. In the international markets, spot gold prices increased by 0.1% and were at $1,957.45 for an ounce.
16 September 2020
Gold prices almost near record highs; silver prices cross Rs.65,000 per kg level
Gold prices traded near its record high on 3 August 2020 due to positive trends in the international market. With the United States of America devising a new stimulus plan, the risk appetite amongst investors lowered. On the Multi Commodity Exchange, gold futures for August was trading at Rs.53,555 per 10 grams.
With the United States dollar showing a weaker trend in the market, August futures touched an intraday high at Rs.53,700 per 10 grams. Silver futures for September increased by Rs.607 and was trading at Rs.65,670 per kg.
In the international market, spot gold was trading at $1,976.47 per ounce after gaining by 1% and was at its all-time high. Silver, on the other hand, dipped marginally by 0.1% to $24.25 per ounce.
4 August 2020
Silver touches its highest, gold on its way towards record expectations
Silver touched its highest in almost seven years and gold continued to move towards record high as markets looked for more stimulus to help the global economy recover from the Covid-19 pandemic. As the number of cases due to the virus continues to grow, traders are turning to the precious metals on surging demand for havens. Slowing growth and negative real interest rates in the United States. Have only made the investors gravitate towards silver and gold. After the success of a European rescue package this week, close eye will be kept on the negotiations between Republicans and Democrats on legislation to prop up the hobbled American economy. Spot silver climbed as much as 7.2% to $22.8366 an ounce, the highest since 2013, and traded at $22.6078. Gold grew as much as 1.3% to $1,865.81 an ounce, the highest since September 2011, and closing in on the all-time high of $1,921.17 set that year.
22 July 2020
Gold prices record marginal incline while silver dips
Gold prices showed a decline of 0.79% on 16 July compared to its previous day’s closing. The metal’s value dipped by Rs.386 to Rs.48,773 per 10 grams.
In the international market, the price of the metal showed a substantial drop in prices, however, the losses were capped due to the constant rise in COVID-19 cases all over the world. The persisting tensions between China and the United States of America also helped steady gold prices.
Spot gold was priced at $1,797.24 per ounce, dipping by 1% and U.S. gold futures remained steady at $1,799.70 per ounce.
17 July 2020
Silver rates climb on Friday
Silver rates gained on Friday tracking firm global rates. The futures of the white metal were up by Rs.190 and was trading at Rs.51,285 per kilogram. While silver gained, gold erased gains. The futures of the yellow metal touched the day’s high of Rs49,948 for every 10 grams on the Multi Commodity Exchange (MCX) after increasing by Rs.70.
It must be noted here that both gold and silver prices in the commodity market have been hitting new highs recently as traders have shunned risk and sought safe havens.
In the international bullion market, spot gold was little changed at $1,799 per ounce, after hitting $1800 mark while silver was quoted at $18.94 per ounce on Friday.
10 July 2020
Gold and silver see a significant rise in prices in the country
The price of gold in Delhi on 1 July increased by more than Rs.600 to Rs.49,908 per 10 grams on Wednesday tracking positive trends in the international market. In the previous session, the precious metal had closed at Rs.49,261 per 10 grams. Following suit, silver prices also jumped substantially by Rs.1,611 per kg from Rs.50,259 per kg to Rs.51,870 per kg.
According to Tapan Patel, Senior Analyst (Commodities), HDFC Securities, spot gold prices saw a heft gain in Delhi for 24-karat gold due to international trends of the metal’s value. In the international market, gold was trading at $1,788 per ounce and silver crossed the $18 per ounce at Rs.$18.34 per ounce.
3 July 2020
Silver prices increase in Bangalore and cross Rs.50,000 for a kg
The prices of silver increased by 0.12% in Bangalore on 1 July 2020 and are at Rs.50,423 for a kg. In the previous session, the prices of silver increased by 3%.
In the international markets, the prices of silver increased by 0.6% and are at $18.24 for an ounce. Like silver, the prices of gold increased in India as well. Gold futures prices for the month of August on MCX increased by 0.14% and are at Rs.48,830 for 10 grams. In India, the prices of gold are inclusive of 3% GST and 12.5% import duty. Due to the increase in the number of coronavirus cases, the prices, the prices of gold increased in the global markets as well. Spot gold prices increased by 0.1% and are at $1,782.21 for an ounce. The prices of gold have increased due to the several measures that have been introduced by central banks and governments all over the world. In the case of currency debasement and inflation, investors move towards gold. According to a note given Kotak Securities, the tensions between China and the US are causing more issues to the economy recovering quicker.
1 July 2020
Gold reaches Rs.48,559 and silver increases to Rs.48,600
The prices of gold had increased to Rs.48,559 from Rs.48,534. Silver rates had also made a few gains from Rs.48,556 and closed at Rs.48,600. In spite of there being no increase in demand, the rates prices of the yellow metal had increased and reached an all-time high mark of Rs.48,825 and had then dipped more than Rs.250.
In the city of New Delhi, the rates of 22-carat gold had decreased by Rs.150 per 10 gram and was being sold at Rs.47,100, and in Chennai, the price had been Rs.46,270. In Mumbai, the prices had gold had increased by Rs.50 and reached Rs.48,350 for 22-carat and 24 carat was being sold at Rs.48,450.
30 June 2020
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