Editor’s Note
This article reports on a decline in gold and silver prices on the MCX, with specific figures provided. It also notes that investors are awaiting key policy remarks, which are a typical market driver.
Gold prices are witnessing a decline. On the MCX, gold was seen trading at ₹99,315 per 10 grams. Meanwhile, silver futures were seen trading at ₹1,13,536 per kilogram.
Investors are awaiting policy remarks from US Federal Reserve Chairman Jerome Powell, who is scheduled to speak today. Prior to this, investors have adopted a cautious stance. Meanwhile, the dollar index is seeing an increase. The dollar index is trading at a 2-week high. This has made buying gold more expensive for other currencies, leading to a decrease in demand.
Along with gold, silver prices are also witnessing a decline. In the futures market, silver was seen trading in the red. On the MCX exchange, silver futures were seen trading on Friday morning at ₹1,13,536 per kilogram, down 0.15 percent.
Global gold prices are seeing a decline on Friday. On COMEX, the gold price was seen trading at $3,372 per ounce, down 0.28 percent or $9.60. Meanwhile, spot gold was seen trading at $3,328.21 per ounce, down 0.31 percent or $10.50.
Along with gold, global silver prices are also witnessing a decline. On COMEX, the global silver price was seen trading at $38.55 per ounce, down 0.09 percent or $0.03. Meanwhile, spot silver was seen trading at $38.05 per ounce, down 0.25 percent or $0.10.
