New Delhi: The gold prices in India dipped today after seeing a marginal hike yesterday. With a downfall of 0.30 per cent or Rs 144 on May 20, 2021, the price of gold futures maturing on June 4 stands at Rs 48,598 per 10 gram on the Multi Commodity Exchange (MCX).
The price of silver maturing on July 5 stands at Rs 72,199 per kg. It saw a dip of 0.46 per cent. Yesterday, while the gold price closed at Rs 48,674, it saw a marginal hike. The silver saw a downfall of 0.61 per cent or Rs 447 on May 19, 2021.
The prices of gold and silver have been fluctuating constantly this week. Amid the second wave of COVID-19, the prices of precious metals have been affected in India. Both gold and silver in India are determined by keeping international prices as the basis.
Other than that, various factors such as the value of the rupee against the dollar and global demand play a key role in determining the trends observed in the rate of precious metals. In international markets, gold rates were flat at at $1,869.50 per ounce. On Wednesday, gold had hit a near four-month high of $1,889.75.
Stronger dollar and higher bond yields weighed on gold. Benchmark US Treasury yields held above 1.664% after the release of the minutes from the Federal Reserve’s last monetary policy meeting.
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