new Delhi. Gold and silver became cheaper in the Indian market on Wednesday due to the fall in the rate of gold in the global market. Today, on the Multicommodity Exchange (MCX), the price of gold fell by Rs 144. In the last five days, the price of gold has decreased by about four thousand rupees.
On MCX, at 9.10 am, the futures price of 10 grams of gold had declined by Rs 144 to Rs 51,420. There has been a steady decline in the price of gold for the last few days. The rate of silver on MCX also decreased by Rs 372 and in the morning silver was selling at Rs 67,953 per kg. For the first time in about a month, silver rates have come below Rs 68 thousand.
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Global market also declined
The spot prices of gold and silver saw a fall in the global market on Wednesday morning. In the global market, gold was selling at $ 1,923.60 per ounce, while silver was at the rate of $ 25.11 per ounce. Experts say that due to the fall in crude prices, now the enthusiasm of investors is returning to the market again.
that’s why gold is getting cheaper
Weakness is being seen in gold and silver at the global level due to the increase in the hope of ending the war between Russia and Ukraine. Crude prices have also come around $ 100 per barrel, due to which the stock markets around the world are returning fast and investors are investing money in the market instead of gold. On the other hand, the US Fed Reserve is expected to raise interest rates in the meeting starting today. Due to these reasons, the prices of gold and silver are falling continuously.
Tags: Gold Price Today, Silver Price Today
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