Gold and Silver Prices See a Boost on Multi Commodity Exchange
Gold and silver prices have increased on the Multi Commodity Exchange (MCX) due to various factors such as the rupee's value compared to the dollar and global demand.
Gold PricesSilver PricesMulti Commodity ExchangeMcxPrecious MetalsGlobal DemandReal Estate MumbaiJul 03, 2024
At the same time, silver futures expiring on September 5, 2024, saw a slight increase of Rs 117 or 0.13 percent, trading at Rs 89,867 per kg on the MCX compared to the earlier price of Rs 89,750.
The prices of gold and silver in India are influenced by various factors, such as the rupee's value compared to the dollar. The trends seen in the rate of precious metals are also influenced by global demand. Gold prices remained unchanged on Tuesday as investors anticipated remarks from Federal Reserve Chair Jerome Powell and employment data to better understand the U.S. central bank's interest rate forecast.
According to Reuters, spot gold was at $2,331.41 per ounce at 0238 GMT, whereas U.S. gold futures increased by 0.1 percent to $2,341.80. Spot silver dropped by 0.2 percent to $29.38 per ounce, along with other valuable metals.
The increase in gold and silver prices on the MCX is a positive sign for investors and traders. It is essential to keep an eye on the market trends and global demand to make informed investment decisions.
Frequently Asked Questions
What is the current price of gold on the MCX?
The current price of gold on the MCX is Rs 71,670 per 10 grams.
What is the current price of silver on the MCX?
The current price of silver on the MCX is Rs 89,867 per kg.
What factors influence the prices of gold and silver in India?
The prices of gold and silver in India are influenced by various factors, such as the rupee's value compared to the dollar and global demand.
Why did gold prices remain unchanged on Tuesday?
Gold prices remained unchanged on Tuesday as investors anticipated remarks from Federal Reserve Chair Jerome Powell and employment data to better understand the U.S. central bank's interest rate forecast.
What is the significance of the increase in gold and silver prices on the MCX?
The increase in gold and silver prices on the MCX is a positive sign for investors and traders.
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