New Delhi: Gold Silver Latest News: Gold and silver prices fell drastically on Friday. February futures of gold on MCX closed down more than 4 percent, while silver fell by 8.74 percent. The main reason behind this decline in the prices of gold and silver in the domestic market was the biggest reason for the global market. In the global market, the gold spot fell nearly 4 percent to $ 1,833.83 an ounce.
Gold became cheaper by Rs 2,000 yesterday
Gold on MCX closed at Rs 48818 on February Friday, falling by Rs 2086 per 10 grams. This fall in gold came on Friday evening, before the gold broke the Rs 50,000 level and also broke the 49,000 level and closed. Prior to this, gold had closed at Rs 50,904 per 10 grams on Thursday. Gold has become cheaper by about Rs 2,700 in two days. Gold touched a low of Rs 48818 per 10 grams on intraday and closed at the same. Let us tell you that the highest level of gold futures on MCX is Rs 57100 per 10 grams. According to this, gold is 8000 rupees cheaper than its highest level.
Silver also falls by more than Rs 6,000
Along with gold, the March futures of silver on MCX also broke down by about 9 percent. Silver fell by Rs 6112 per kg to settle at 63850, down from Rs 64,000. Silver is also down by Rs 16,000 from its highest level of Rs 79980 per kg. On intraday day, silver touched a low of Rs 63719 per kg on Friday. By 8 pm on Friday night, silver was trading above Rs 68,000, but after that it saw a very sharp decline. Silver had also touched a high of Rs 69825 per kg in intraday, that is, it closed at Rs 5975 from its highest level in intraday.
The rise in the US Treasury Yield has put pressure on gold prices. The Democrats’ control in the US Senate has raised hopes for the Stimulus package, which has led to the 10-year benchmark bond yield reaching its highest level since March.
Gold and silver prices in your city
In the bullion market, gold has become cheaper by about 500 rupees. Let’s take a look at what is the trend of 10 grams 24 carat gold in four metro cities, according to Goodreturns.in
10 grams of gold price
City gold price
Now let’s see what the price of 1 kg of silver is in these four metro cities. According to goodreturns.in
Price of 1 kg silver
City silver price