Gold Price Today: Gold has slipped below 85,800 on MCX. After the opening, gold fell by Rs 300. Silver fell by 200. The price was below 98000.
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Gold Price Today: Bullion is showing weakness in the domestic futures market amid slight fluctuations in the international market. Both gold and silver have fallen from the upper levels. Gold has slipped below ₹ 85,800 on MCX. After the opening, gold fell by up to Rs 300. Silver fell by 200. The price was below ₹ 98000. Gold price in the global market was close to $2900. Strong bond yield is putting pressure on gold and silver. At the same time, the dollar is at a 4-month low below 104.
On Friday (7 March) around 10 am, gold was trading at Rs 85,790 per 10 grams on MCX, down by Rs 244. On Thursday, gold closed at Rs 86,034. Silver was down by Rs 166 per kg during this period and was trading at Rs 97,975. Yesterday it closed at Rs 98,141.
What are the rates in the bullion market?
The price of gold fell by Rs 200 to Rs 89,100 per 10 grams in the bullion market of the national capital on Thursday amid a fall in the prices of precious metals in the international markets. The previous closing price of gold of 99.9 percent purity was Rs 89,300 per 10 grams. Gold of 99.5 percent purity fell by Rs 200 to Rs 88,700 per 10 grams from Wednesday’s closing level of Rs 88,900 per 10 grams. However, silver remained stable at Rs 99,000 per kg.
Saumil Gandhi, Senior Analyst-Commodity at HDFC Securities, said, “Gold prices fell on Thursday as investors considered the latest tariff developments and their implications. There is talk that US President Donald Trump may consider reducing tariffs on Mexico and Canada.” According to Jatin Trivedi, Vice President Research Analyst- Commodity and Currency, LKP Securities, with the release of key economic data including US ADP non-agricultural employment, non-agricultural payrolls and unemployment data, volatility in bullion prices is expected to continue.
