If you are going to buy gold and silver, then before leaving the market, do check today’s rate in the bullion market. Today, gold has become cheaper in the market and silver prices have registered a rise. Gold on Wednesday fell by Rs 40 to Rs 52,797 per 10 grams in the Delhi bullion market amid a fall in the prices of the precious metal in global markets. In the previous trading session, gold had closed at Rs 52,837 per 10 grams.
Rise in Silver Price
In contrast to gold, the price of silver climbed by Rs 110 to Rs 62,056 per kg. In the international market, gold fell to $ 1,745 an ounce and silver was trading at $ 21.27 an ounce without any change. “Comex gold (commodity market) declined as investors awaited details of the US Federal Reserve meeting,” said Dilip Parmar, Research Analyst, HDFC Securities.
Rise in Gold Futures
Gold futures on Tuesday rose by Rs 98 to Rs 52,390 per 10 grams due to fresh positions created by speculators in strong spot demand. On the Multi Commodity Exchange, gold for delivery in December was trading at Rs 52,390 per 10 grams, up by Rs 98, or 0.19 per cent. It traded for 4,580 lots. Market analysts said fresh positions created by traders mainly influenced the rise in gold prices at futures. Globally, gold traded higher by 0.18 per cent at USD 1,757.80 an ounce in New York.
Silver futures also increased
Silver prices rose by Rs 201 to Rs 61,090 per kg in futures trade on Tuesday as traders reduced their positions due to weak demand in the spot market. Silver for delivery in December traded higher by Rs 455, or 0.75 per cent, at Rs 61,090 per kg at the Multi Commodity Exchange. There was a turnover of 11,061 lots. Market analysts said fresh buying by traders amid a firm trend at the spot market mainly mainly influenced the rise in silver prices at futures trade. Globally, silver traded higher by 0.96 per cent at USD 21.27 an ounce in New York.