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Gold price declines, silver trades marginally higher on MCX

By Saima Siddiqui 
Updated Date

New Delhi: Gold prices fell as much as 0.23 per cent on the MCX to touch an intraday low of ₹ 47,210. Spot price for fine gold was ₹ 46,900 per 10 gram on Monday, according to India Bullion & Jewellers Association (IBJA). While, Gold with purity of 22 carat was sold at ₹ 45,310 per 10 gram, 18 carat gold was retailed at ₹ 37,520 per 10 gram and 14 carat gold was sold at ₹ 31,119 per 10 gram, IBJA said in a tweet.

Also Read :- Gold price falls as dollar climbs to 20-year high | Know the rates

In international markets, gold prices retreated from a more than two-month high on Tuesday due to an uptick in the dollar, although weaker-than-expected US economic data stoked concerns over recovery and limited losses for the safe-haven metal.

Spot gold was down 0.2 per cent at $1,788.89 per ounce by 9:34 am, after hitting its highest since February 25 at $1,797.75 on Monday.

US gold futures fell 0.1 per cent to $1,789.40 per ounce.

“The reversal in the dollar is weighing on gold a bit, we’ve seen the dollar strengthen despite the Feds near-term dovish rhetoric,” said DailyFX currency strategist Ilya Spivak.

Also Read :- Gold trading at Rs 54,380 per 10 grams of 24-carat; silver at Rs 69,900

Following the national trend, gold prices observed a varied rise in prices across different cities in the country. Knowhow much you will be spending on the metal if you are planning to buy it today in the following Indian cities:

Gold rates in Delhi:

In Delhi, 10 grams of 22-carat gold is worth Rs 45,580. While 24-carat gold of 10 grams will cost Rs 49,7800.

Gold rates in Kolkata:

For 10 grams of 22-carat gold in West Bengal’s capital city, you will have to pay Rs 46,320, whereas for 24-carat gold you would have to pay 49,110.

Gold rates in Chennai:

While, 10 grams of 22-carat gold in Chennai will cost you 44,230, while for 24-carat, the price in Tamil Nadu’s capital city is Rs 48,250 per 10 grams.

Gold rates in Mumbai:

The price of 10 grams of 22-carat gold in the financial capital of the country stands at Rs 44,370, while for 24-carat of the same quantity you will have to spend Rs 45,370.

Also Read :- Gold prices today, March 14, drop, down ₹3,000 per 10 gram in just 4 days

International Price of Gold:

The US gold futures traded at USD 1,789 as a slight increase from the previous day’s USD 1,773.

Whereas, following an increase of Rs 25 from Monday, silver rates traded at Rs 700 for 10 grams.

The price of silver stands at Rs 70,000 per kilogram in Delhi, Pune, Jaipur, Vadodara, Mumbai, and Kolkata for one kilogram. While it remains costly by Rs 3,500 and is priced at 73,500 in Chennai, Madurai, Coimbatore, Vijayawada, and Hyderabad.

Silver futures for delivery in May rose marginally to hit an intraday high of ₹ 69,898 per kilogram. Silver was retailed at ₹ 68,480 per kilogram, according to IBJA.

In the international markets silver was down 0.5 per cent at $26.74 per ounce, after hitting its highest since March 1 on Monday, while platinum rose 0.1 per cent to $1,231.46.

Also Read :- Gold rates today, March 2, drop after jumping ₹1,100 per 10 gram, silver prices slip
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