Gold Silver Price Today: Gold is expensive by Rs 248, silver is close to 56 thousand, Check the latest rates here...
Gold and silver prices are also showing a rise today. After recovering from the continuous decline last week, there was a sharp rise in the futures price of the yellow metal, while silver again reached close to 56 thousand. On the Multicommodity Exchange (MCX), the futures price of 24-carat purity increased by Rs 248 to Rs 50,355 per 10 grams on Monday morning. Earlier, trading in gold had started openly at the level of Rs 50,150, but due to an increase in demand, soon the prices started showing a jump. Gold is currently trading at a gain of 0.49 percent from its previous closing price.
Silver also became expensive
Silver prices also showed a jump this morning and its futures price has once again reached close to 56 thousand. Silver futures on MCX rose by Rs 363 to Rs 55,950 per kg in the morning. Earlier, trading in silver had started openly at Rs 56,120, but due to the softening of demand, there was some fall in the prices. However, silver is currently trading higher by 0.65 percent from its previous closing price.
What is the price in the global market?
There is a jump in the prices of gold and silver in the global market today. The spot price of gold in the US market in the morning was $ 1,714.89 an ounce, which is 0.25 percent more than its previous closing price. Similarly, the spot price of silver has also reached $ 18.83 an ounce today. Silver is also trading 0.44 percent above its previous closing price.
What is the future of gold and silver?
Many big economic events are happening in America at this time. On the one hand, the dollar has reached a 20-year high, which is increasing the pressure on the price of gold. On the other hand, inflation is also at the peak of 41 years and investors have shifted away from gold. Apart from this, due to the continuous increase in interest rates, investors have started getting better returns on deposits, thereby diverting their attention from investing in assets like gold. However, as soon as the pressure of the Russo-Ukraine war in the global market eases, gold prices will rise again.