Gold and silver prices continue to fluctuate. Silver rose by ₹1,140 to ₹2.67 lakh per kg. At the same time, gold prices fell by ₹500 to ₹1.61 lakh per 10 grams.
Gold and silver prices on MCX
Gold and silver prices are increasing rapidly on the Multi Commodity Exchange, making it difficult for common customers to buy jewellery. Gold with expiry date of April 2 has reached ₹ 1,61,668 per 10 grams, while silver with expiry date of March 5 is trading around ₹ 2,65,350 per kg.
This huge increase in prices has shocked investors and buyers. This is having a direct impact on the demand for gold and silver, especially during the wedding season and for investment purposes. Market experts say that precious metals are rising due to increased global buying, safe-haven demand and geopolitical uncertainties.
Meanwhile, Finance Minister Nirmala Sitharaman and RBI Governor Sanjay Malhotra have made it clear that the government and the Central Bank are closely monitoring gold and silver prices and increasing imports. According to the Finance Minister, the increase in prices is due to increasing purchases in the international market and global factors.
Gold and silver prices in international market
However, gold and silver prices fell in the global market on Tuesday. COMEX gold slipped below its three-week high under pressure from a stronger US dollar, uncertainty over tariffs and US-Iran tensions. Spot gold fell about 1.5% to $5,150.38 an ounce, while US gold futures for April delivery fell 1.1% to $5,170.70 an ounce. Silver also saw a sharp decline, with spot silver falling 3.1% to $85.50 an ounce, after hitting a two-week high a day earlier.
