new Delhi. There has been a sharp decline in the prices of gold and silver today. Gold prices fell for the second consecutive day in the Delhi Bullion Market on Wednesday as the rupee appreciated against the dollar.
What is the cost today
In today’s trade, the price of gold has fallen by Rs 631 to close at Rs 51,367 per 10 grams. In the previous trading session, gold had closed at Rs 51,998 per 10 grams. Along with this, the prices of silver also fell sharply, in today’s business, silver fell by Rs 1,681 to Rs 62,158 per kg. The previous day’s closing price was Rs 63,839.
What is the reduced price in 2 days
In the last 2 days, gold has become cheaper by Rs 764 per 10 grams. At the same time, silver has become cheaper by Rs 2556 per kg. Earlier, there was an increase in prices for 3 consecutive days. In the past, there was a record rise in the prices of gold and silver. In the month of August, gold had reached a record high of Rs 56200 per 10 grams and silver Rs 80 thousand per kg. Investors had increased investment in gold and silver due to the uncertainty in the economies due to the epidemic, which led to a surge in prices.
How was futures trading
On the other hand, on the Multi Commodity Exchange, December gold futures prices rose by Rs 136, or 0.27 per cent to Rs 50,381 per 10 grams. The contract traded for 14,802 lots. Market analysts said the rise in gold prices was triggered by traders buying fresh deals. In New York, gold rose 0.46 percent to $ 1,903.40 an ounce. On the other hand, due to foreign cues, traders in the local futures market increased the size of their deals on Wednesday, due to which silver prices rose by Rs 565, or 0.93 per cent to Rs 61,107 per kg for December contract on Multi Commodity Exchange. It traded for 15,770 lots. In New York, silver rose 1.04 percent to $ 24.38 an ounce.