Gold and Silver Rates Close with Mixed Results
The gold and silver rates have had mixed results during the day, according to the India Bullion and Jewelers Association. The evening gold price stood at Rs 59,856, which is an increase of Rs 84 from the morning rate. However, gold closed Rs 65 lower than the previous trading day’s rate of Rs 59,921 per ten grams. Meanwhile, silver closed at Rs 73,169 per kg, which is an increase of Rs 67 from the morning rate. But, it has decreased by Rs 263 per kg compared to the previous trading day.
Gold and Silver Rates Compared to Their All-Time Highs
Although gold and silver prices have been fluctuating, they are still below their all-time highs. Gold is currently selling cheaper by Rs 1,790 from its all-time high of Rs 61,646 per ten grams, which was reached on May 4, 2023. Silver is also trading below its all-time high of Rs 76,464, which was reached on the same day.
Futures Trade on Multi Commodity Exchange (MCX)
On the Multi Commodity Exchange (MCX), gold futures trade for August 4, 2023, is currently trading at a level of Rs 59,809.00 with a gain of Rs 168.00. Meanwhile, silver futures trade for July 5, 2023, is trading at a level of Rs 73,396.00 with a gain of Rs 422.00.
International Market Rates
In the international market, gold is trading at a level of $1,964.91 per ounce, which is a gain of $4.82. On the other hand, silver is trading at a level of $24.19 an ounce, which is a decrease of $0.10.
Conclusion
The gold and silver rates have seen mixed results during the day, with gold increasing from the morning rate but closing lower than the previous trading day’s rate. Meanwhile, silver has increased from the morning rate but decreased compared to the previous trading day. However, both are still below their all-time highs. On the Multi Commodity Exchange (MCX), gold and silver futures trade with gains. In the international market, gold is trading higher while silver is trading lower.
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