Gold-Silver Price Today: Gold becomes cheaper, silver prices also fall

The price of gold and silver continues to fluctuate. In the national capital, gold on Thursday fell by Rs 32 to Rs 52,224 per 10 grams, from Rs 52,256 per 10 grams in the previous trading session. At the same time, silver also declined by Rs 348 to Rs 57,298 per kg from Rs 57,646 per kg in the previous trading session.

In the international market, gold was trading higher at $ 1,763 an ounce, while silver was trading flat at $ 19.67 an ounce. HDFC Securities Senior Analyst (Commodities) Tapan Patel said gold prices have remained limited in the past few days on the back of mixed global cues on the rate hike by the US Federal Reserve and inflation concerns.

Gold prices on Thursday rose by Rs 202 to Rs 51,745 per 10 grams in futures trade as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 202 or 0.39 per cent at Rs 51,745 per 10 grams, with a business turnover of 14,946 lots. Analysts said fresh positions by participants led to the rise in gold prices. Globally, gold was trading 0.14 per cent lower at USD 1,779.20 an ounce in New York.

Silver prices on Thursday rose by Rs 13 to Rs 56,928 per kg in futures trade as participants raised their bets on firm spot demand. On the Multi Commodity Exchange, silver for delivery in September was trading higher by Rs 13, or 0.02 per cent, at Rs 56,928 per kg in 16,710 lots. Market analysts said the rise in silver prices was mainly due to fresh positions by participants amid a positive domestic trend. Globally, silver was trading 0.18 per cent lower at $19.82 an ounce in New York.