In a day of fluctuating fortunes, both gold and silver witnessed a dip in their prices in the futures market.
Gold Rates in India:
On the Multi Commodity Exchange (MCX), the price of gold for delivery in October 2023 was seen at Rs 58,530 per 10 grams, marking a decrease of Rs 63 or 0.11 percent compared to the previous session’s rate of Rs 58,593 per 10 grams. Similarly, gold for delivery in December 2023 was trading at Rs 59,004 per 10 grams, showing a marginal drop of nine rupees or 0.02 percent from the previous rate of Rs 59,013 per 10 grams.
Silver Rates in India:
In the silver market, MCX witnessed a decline as well. Silver for delivery in December 2023 was trading at Rs 71,124 per kg, reflecting a fall of Rs 295 or 0.41 percent compared to the previous session’s price of Rs 71,419 per kg. Moreover, silver for delivery in March 2024 was priced at Rs 72,660 per kg, experiencing a decrease of Rs 320 or 0.44 percent from the previous rate of Rs 72,980 per kg on Wednesday.
Global Gold Market:
Over in the global market, the Comex showed gold for delivery in December 2023 trading at $1,931.40 an ounce, marking a slight decline of 0.06 percent. Meanwhile, in the spot market, gold was trading at $1,909.55 per ounce, recording a 0.07 percent increase.
Global Silver Market:
In the international silver market on Comex, silver for delivery in December 2023 was priced at $23.03 an ounce, marking a decline of 0.67 percent. The spot market showed silver trading at $22.75 an ounce, experiencing a 0.38 percent decrease.
While these fluctuations offer opportunities for investors, they also reflect the complex dynamics affecting precious metals today. Keep an eye on these markets as they continue to dance to their unique tunes.