Gold, silver tumble up to 4 pc amid stronger dollar, rising crude prices
Gold and silver prices traded sharply lower on Friday, with both precious metals declining in domestic trade by up to 4 per cent amid strength in the dollar index.
Gold and silver prices traded sharply lower on Friday, with both precious metals declining in domestic trade by up to 4 per cent amid strength in the dollar index.
Gold and silver prices traded higher on Thursday, with prices rising by up to 1 per cent amid a rise in crude oil prices and uncertainty surrounding the US-Iran peace deal.
Global crude oil prices declined almost 3 per cent on Monday after US President Donald Trump said Washington would take steps to help clear vessels stranded in the Strait of Hormuz, though the lack of a breakthrough in US-Iran talks kept prices above the $100-mark.
Gold futures on the MCX dipped close to 1 per cent on Thursday from record high in the previous session due to profit booking, amid easing geopolitical tensions and strengthening of dollar.
Gold and silver prices opened sharply lower on Thursday on the Multi Commodity Exchange (MCX) after the US Federal Reserve announced a 25-basis points rate cut.
Gold prices reached a historic milestone on Wednesday, crossing the $4,000 per ounce mark in international markets for the first time ever.
Silver futures on the Multi Commodity Exchange (MCX) touched a new all-time high of Rs 1,09,250 per kilogram on Tuesday, as investors rushed to safe-haven assets amid rising tensions between Israel and Iran.
Gold prices hit a new record high in India on Wednesday, with the yellow metal trading at Rs 95,435 per 10 grams on the Multi Commodity Exchange (MCX).
Gold futures, maturing on June 5, 2024, stood at Rs 72,813 per 10 grams on the MCX, up Rs 536 or 0.74 per cent from the previous day’s close of Rs 72,277.
The price of gold went up on MCX on Wednesday with gold for June 5 delivery traded 0.44 per cent higher at Rs 71,652 per 10 grams at around 11:30 a.m.
