The month of August has been a comfort for gold buyers. Gold and silver prices registered gains in the initial days, but both the metals have been falling steadily since last week. In such a situation, the luster of gold has faded once again in the Indian market. After July, prices were predicted to rise in the month of August, but the prices of gold and silver could not reach a long distance.
Gold-silver today’s price
Gold slipped in the red in the domestic futures market in early trade on Wednesday due to a decline in the dollar index. Gold is under pressure amid rising bond yields and economic concerns in China. October gold futures on MCX were trading at Rs 58,812 per 10 grams, down Rs 162, or 0.27 per cent, in the opening session. Meanwhile, September silver futures were trading at Rs 69,965, up by Rs 11 or 0.02%.
Meanwhile, after being closed between 9 am and 5 am on Independence Day, the Indian commodity market resumed bullish trading in the second session. On the Comex, gold futures were trading at $1934.80 an ounce while silver futures were down $0.006, or 0.030%, at $22.650.
Gold-silver rate in the retail market
on August 16, 10 grams of gold in India is trading close to Rs 59,000 in most cities. Specifically, 10 grams of 24 carat gold costs Rs 59,510, while 22 carat gold costs Rs 54,500. On the contrary, the price of silver is 72 thousand 800 rupees per kg. Gold and silver prices had risen considerably in the month of July, but the August fortnight has passed, but the prices have not been able to make much headway. Last year after Diwali, gold and silver took a big leap and between February and April, gold and silver reached new highs. But now it seems that the price of gold and silver has started falling once again.