Gold and Silver Rates Close with a Fall on June 5, 2023
Gold and silver rates closed with a fall on June 5, 2023, as per the India Bullion and Jewelers Association. The gold rate in the evening stood at Rs 59601, down by Rs 707 per 10 grams as compared to the previous trading day. On the other hand, the rate of silver closed at Rs 71462 per kg, down by Rs 896 per kg as compared to yesterday. Gold is selling cheaper by Rs 2,045 from its all-time high, whereas silver is trading below its all-time high of Rs 5,002.
MCX and International Market Rates
On the Multi Commodity Exchange (MCX), the futures trade of gold on June 5, 2023, was down by Rs 184.00 and trading at Rs 59,424.00. Similarly, the futures trade of silver on July 5, 2023, was trading at a level of Rs 71,677.00, with a fall of Rs 434.00. In the international market, gold is trading at a rate of $ 1,940.41 an ounce, down by $ 8.91, while silver is trading down by $ 0.13 at the level of $ 23.44 an ounce.
Opportunity to Buy Gold
With the rates of gold and silver falling, it presents a great opportunity for buyers to invest in these precious metals. Gold is expected to give good returns this year, ahead of the Share Market and Bank FD. Therefore, investors can consider buying gold for long-term investment purposes.
Conclusion
Gold and silver rates closed with a fall on June 5, 2023, in all major cities of the country. It presents a good opportunity for investors to buy gold at a lower rate. However, investors should do their research and consult with financial experts before investing in any asset.
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