Gold Silver Price Today: Like MCX, a softening of gold and silver prices is being seen on COMEX. The price of gold on COMEX has come to $ 1990 per ons.
Gold Silver Price Today: Strong action is being seen in the prices of gold and silver these days. Along with the foreign markets, the bullion market is also witnessing softness in the domestic futures market. After the record rally, the reason for softening of the prices of both is the investors’ focus on the US FED’s decision on interest rates. Due to this, investors have a good opportunity to buy gold cheaply.
Price of gold and silver in domestic market
Today on MCX the price of gold has fallen by about Rs 60 and is trading at the rate of Rs 61123 per 10 grams. Whereas in the beginning of this month the price had crossed Rs 64000. However, since then till now a lot of correction has been seen in the prices of gold. Similarly, silver is also trading at Rs 71750 per kg with a fall of Rs 110.
Gold and silver in foreign market
Like MCX, softening of gold and silver prices is being seen on COMEX. The price of gold on COMEX has come to $ 1990 per ons. Similarly, the price of silver has slipped below $23 per ons.
Relief from inflation
The reason for the softening of gold and silver prices is the inflation figures, in which a decline was recorded. In America, the inflation rate fell from 3.2% to 3.1% in November, which was as per expectations. Core inflation also stood at 4% as per estimates. Inflation figures were released in India on December 12, which were weaker than expected. In November, the retail inflation rate was 5.55 percent, whereas it was 5.8 percent.
