Even though there has been no let-up in the US/Israel-Iran war, gold prices have fallen significantly in the last five days. Gold prices have declined in both the domestic futures and spot markets in the last five days. A lot of volatility was also seen on Friday, due to which gold prices fell significantly during the trading session. Let us know how much the price has fallen.
Gold fell by ₹10,560 in 5 days
On Monday, March 2, the price of gold on MCX exchange had closed at ₹1,66,077 per 10 grams. The price had reached the maximum level of ₹1,69,880 per 10 grams during the trading session. On Friday, March 6, the price had closed at ₹1,61,634 per 10 grams. On Friday, the price had fallen to ₹1,59,320 per kg. Thus, the price of gold has fallen by ₹4,440 in the last five days. If we look at the difference between high and low prices during the trading session, the price of gold has fallen by ₹10,560 per 10 grams in the last five days.
Silver has fallen by ₹ 37,000
Along with gold, silver prices have also seen a significant decline in the last five days. On Monday, March 2, the future price of silver on MCX closed at ₹278,481 per kg. During that trading session, the price of gold had reached ₹297,799 per kg. Subsequently, on Friday, March 6, the last trading day of the week, the price of silver closed at ₹268,285 per kg. During this trading session, silver had reached a low of ₹260,809 per kg. Thus, the price of silver has fallen by ₹10,196 per kg in the last five days. If we compare the high and low during the trading session, the price of silver has fallen by ₹36,990 per kg in the last five days. According to experts, the strong US dollar and rising US bond yields have put pressure on gold prices. If tension in the international market subsides, a further decline may be seen in domestic gold prices.
global gold price
Global gold prices closed higher on Friday. COMEX gold rose 1.58% or $80 to $5,158.70 an ounce. At the same time, gold spot increased by 1.76% or $89.44 and closed at $5,171.74 an ounce.
global silver price
Talking about the global price of silver, it was seen trading at $84.31 an ounce on COMEX on Friday, which was up 2.59% or $2.13. At the same time, silver spot was seen trading at $ 84.54 an ounce with an increase of 2.79 percent or $ 2.30.