Gold-silver futures prices in India today fell in line with equity markets around the world due to positive news on the corona vaccine. On the MCX, gold futures fell 0.6 per cent to Rs 49,815 per 10 grams in February. Silver futures fell 1.2 per cent to Rs 64,404 per kg. Gold was up 0.2 per cent in the previous session while silver was down 0.6 per cent.
Gold prices fell in international markets today. This is because the growth of the vaccine has pushed investors towards risky equities. But for the most part, the hope of American stimulus has pushed gold to lower levels. Spot gold fell 0.3 percent to 65 1865.46 an ounce.
Among other metals, silver slipped 0.7 per cent to 24 24.38 an ounce. Platinum rose 0.6 percent to 10 1,028.17 and palladium rose 0.1 percent to 23 2,311.87.
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The main reason for price fluctuations
Fluctuations in the US dollar, rising corona cases and related sanctions, mixed economic data from major economies, more stimulus measures and Brexit uncertainty have seen gold and silver prices fluctuate. Despite the current correction, gold, which is being seen as a defense against speculation. This year is up about 25 percent. The inflow of RTF indicates a weak investment in gold. Analysts say the biggest reason for the rise in gold prices over the past few weeks is progress on the vaccine front.
Previous day these were prices
It may be mentioned that the last day i.e. Tuesday saw a huge rise in gold-silver prices. According to HDFC Securities, gold rose by Rs 816 to Rs 49,430 per 10 grams in Delhi on Tuesday. The precious metal had closed at Rs 48,614 per 10 grams in the previous trading session. Silver rose by Rs 3,063 to Rs 64,361 per kg. According to the India Bullion and Jewelers Association website (ibjarates.com), gold prices rose by Rs 533. After this, the price of gold was Rs 49782 per 10 grams. While silver rose by Rs 1,691 to Rs. 63839 per kg. The price of 10 grams of 24 carat gold was Rs 49,780 while the price of 10 grams of 22 carat gold was Rs 45,600.
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