Gold and silver prices continue to fluctuate. According to bullion rates, silver prices rose by ₹6,700, while gold also became more expensive by ₹1,500.
Silver fell 4.23 percent to ₹2,51,500 per kg on MCX in early trading. Gold also fell 0.91% to ₹1,56,631 per 10 grams.
Status of Gold and Silver in the Domestic Market
On Tuesday, the price of one kilogram of silver in the bullion market fell by ₹7,500. Silver prices fell to ₹2,64,500 per kg (including all taxes). Meanwhile, the price of 99.9 percent pure gold jumped ₹2,200, or 1.4 percent, to ₹1,60,700 per 10 grams.
Gold and Silver Prices in the International Market
Meanwhile, some positive sentiment was observed in the international market. After Tuesday's decline, expectations of a possible interest rate cut by the US Federal Reserve supported the market. Spot gold traded marginally higher at $5,065 per ounce during Asian trading on Wednesday, while spot silver rose sharply, rising 1.16% to $81.32 per ounce.
However, gold prices remain below their record levels. Gold is down nearly 11% from its all-time high of $5,608.35 per ounce, reached on January 29. Silver, meanwhile, is still about 50% away from its record high of $121.67 per ounce.
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