Silver and
gold prices saw a sharp reversal on Thursday, snapping a two-day recovery as futures came under heavy selling pressure amid weak global cues and a firm US dollar. On the Multi Commodity Exchange (MCX), silver futures for March delivery plunged by Rs 26,850, or 10%, to settle at Rs 2,42,000 per kilogram. In the previous session, the metal had closed at Rs 2,68,850 per kg.
Gold prices also moved lower. The April futures contract fell by Rs 2,310, or 1.51%, to Rs 1,50,736 per 10 grams, compared with Wednesday’s closing level of Rs 1,53,046 per 10 grams. “Gold and silver erased recent gains, snapping a two-day rebound as renewed selling pressure and heightened volatility returned to precious-metal markets,” said Renisha Chainani, head – research at Augmont.
The weakness in domestic markets mirrored trends overseas. In international trade, both silver and gold futures extended losses. On Comex, silver futures for March delivery dropped by $8.85, or 10.48%, to $75.55 per ounce. During intraday trade, the metal fell more than 13% to touch a low of $73.38 per ounce.
How much gold costs in your city today:Gold price in Ahmedabad today
Gold prices in Ahmedabad stand at Rs 14,160 for 22K gold and Rs 15,447 for 24K gold.
Gold price in Bangalore today
In Bangalore, 22K gold is priced at Rs 14,155, while 24K gold is selling at Rs 15,442.
Gold price in Bhubaneswar today
Gold in Bhubaneswar is priced at Rs 14,155 for 22K and Rs 15,442 for 24K.
Gold price in Chennai today
In Chennai, 22K gold costs Rs 14,320, while 24K gold is priced at Rs 15,622.
Gold price in Delhi today
Gold prices in Delhi stand at Rs 14,170 for 22K gold and Rs 15,457 for 24K gold.
Gold price in Hyderabad today
In Hyderabad, 22K gold is available at Rs 14,155, while 24K gold is priced at Rs 15,442.
Gold price in Jaipur today
Gold in Jaipur is priced at Rs 14,170 for 22K and Rs 15,457 for 24K.
Gold price in Kanpur today
In Kanpur, 22K gold costs Rs 14,170, while 24K gold is priced at Rs 15,457.
Gold price in Kolkata today
Gold prices in Kolkata stand at Rs 14,155 for 22K gold and Rs 15,442 for 24K gold.
Gold price in Mumbai today
In Mumbai, 22K gold is priced at Rs 14,155, while 24K gold costs Rs 15,442.
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Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
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