On Monday, there is a tremendous decline in the price of gold. In the domestic futures market, gold is seen trading with a huge decline. In early trade on the MCX Exchange, gold futures were trading at Rs 1,07,208 per 10 grams in early trade. The global market is also seeing a decline in gold prices.
Why the fall in gold?
Gold is seeing profits from high levels due to the rise in US dollars. The dollar index has rose by 0.20 per cent. This has made it expensive to buy gold compared to other currencies. In such a situation, the demand has decreased and prices are falling. The price of gold in the previous season created a new all -time high level.
Silver also declined tremendously
There is also a huge decline in the price of silver on Monday, the first trading day of the week. Silver futures were seen trading on red mark on Monday morning. Silver was trading at Rs 1,23,863 per kg in early trade on MCX Exchange at Rs 1,23,863 per kg in early trade.
Global price of gold
In the global market, the price of gold also saw a decline on Monday morning. Gold was trading at $ 3,627 an ounce on the comex at $ 0.72 percent or $ 26.30. At the same time, gold spot was seen trading at $ 3,582 an ounce with a drop of 0.12 percent or $ 4.41.
Global price of silver
Along with gold, there has been a decline in global prices of silver. Silver on Comex was trading at $ 41.24 an ounce on Monday morning with a decline of 0.75 percent or $ 0.31. At the same time, silver spot was seen trading at $ 40.62 an ounce with a decline of 0.94 percent or $ 0.39.
