Gold prices were trading mildly higher on Wednesday as investors awaited the US Federal Reserve’s rate-hike decision later in the day. Bullion prices also got a boost from after a smaller-than-expected rise in the US consumer prices. Gold rates today in India fall sharply: Check today gold rate
On MCX, gold futures were down 0.6% to Rs.54,352 per 10 gram while silver slumped 1.7% to Rs.68,145 per kg. Earlier this week, the yellow metal had hit a nine-month high when rates crossed Rs.55,500 per 10 gram in Indian market.
The prices of gold and silver in the country are continuously on the higher side. Gold prices started at Rs 54,770 per tola when the Sarfa market opened on Wednesday, reaching its highest level of Rs 54,890 during the day. On the other hand, talking about silver price, it started at Rs 68,866 per kg, which later reached Rs 69,070 per kg.
A period of slight decline in the international market
Let us tell that in the international market, gold prices are currently trending on the red mark and there is a slight phase of decline in them. Compared to Tuesday, gold prices fell by 0.04 percent on Wednesday, due to which gold was seen doing business at $ 1,809 an ounce.
Similarly, a decline of 0.13 per cent was seen in the silver rates on Wednesday as compared to the previous day. Silver prices remained around $ 23.68 an ounce on Wednesday. If we talk about the last one month, then the gold prices have increased by 2.17 percent in the international market. At the same time, an increase of 9.17 percent has been registered in the rates of silver.
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Gold and silver prices showed a rise on Wednesday
On the other hand, if we talk about the Indian bullion market, despite minor fluctuations, it still remains at a high price. On Tuesday, a decrease of Rs 8 per gram was recorded in the gold price in Delhi, due to which it closed at Rs 54,542 per gram. At the same time, the prices of silver showed a rise and it increased by Rs 82 to reach Rs 68267 per kg. But on Wednesday, the prices of these two showed a rise again and they closed at new heights.
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