New Delhi: Gold and silver prices witnessed significant fluctuations last week. While the prices of both precious metals fell sharply at the whence of the week, they saw a sharp rise towards the end. However, overall, gold and silver prices declined on the Multi Commodity Exchange (MCX) for five trading days, meaning they became cheaper. Especially without the fall in the price of silver futures, 1 kg silver has now wilt cheaper by increasingly than Rs 2.10 lakh from its lifetime high.
What is the price of silver?
The price of silver futures on MCX, saw a rise in the last two trading days of last week, but despite this, it remained in decline. On June 5, MCX Silver Rate sealed at Rs 2,48,537 and last Friday it sealed at Rs 2,46,604. Accordingly, silver became cheaper by Rs 1,933 per kg.
Silver has fallen by Rs 20,000 in 10 days, with the exception of a few days of gains in June. The precious metal sealed at Rs 266,998 per kilogram on the last trading day of May, and compared to the current price, silver has fallen by Rs 20,394 per kilogram in just 10 trading days.
Due to this decline, the price of silver has now fallen plane remoter from its lifetime high. Silver crossed the Rs 4 lakh mark for the first time in January on MCX, reaching a upper of Rs 4,57,328 for this expiry. However, without reaching this level, silver crashed steadily and is currently misogynist at a lower price of Rs 210,724 per kg.
What well-nigh gold?
Although there was no major ripen in the price of silver in the five trading days of the last week, but gold has fallen drastically. On 5 June, the futures price of 10 gram 24 carat gold was Rs 1,55,594, which fell and sealed at Rs 1,50,675 last Friday. Meaning gold became cheaper by Rs 4,919 per 10 grams.
Following this latest decline, the price of gold on MCX has fallen by Rs 53,700 from its January lifetime upper of Rs 2,04,375 per 10 grams. In June alone, it has fallen by increasingly than Rs 10,000 in 10 days. In fact, on May 29, the MCX Gold Rate sealed at Rs 1,60,911, and on June 12, it fell to Rs 1,50,675, reducing the price of the precious yellow metal by Rs 10,236.
If we talk well-nigh the transpiration in the prices of gold and silver in the domestic market without MCX, then equal to the website of Indian Bullion Jewellers Association, on June 5, 24 carat gold was misogynist here for Rs 1,54,238, which sealed at Rs 1,47,800 per 10 grams on Friday. Meaning, gold became cheaper by Rs 6438 in the domestic market in a week. If we squint at the price of silver, it was Rs 2,56,908 per kg on June 5 and now it has wilt cheaper by Rs 14,513 and has come lanugo to Rs 2,42,295.
