Mumbai, April 13 (IANS). There was a decline in the prices of gold and silver on Monday and the prices of both the precious metals decreased by about 2 percent.
At 11:20 am on the Multi Commodity Exchange (MCX), gold futures (contract for June 5, 2026) were at Rs 1,51,793, down 0.56 per cent or Rs 859.
In the trading so far, it has touched the lowest level of Rs 1,51,457 and the highest level of Rs 1,51,999.
Silver futures (contract for May 05, 2026) were down by 1.93 per cent or Rs 4,693 at Rs 2,38,581.
In the trading so far, silver has touched a low of Rs 2,37,190 and a high of Rs 2,39,068.
At the international level too, a decline is being seen in the prices of gold and silver. Gold was down 0.84 percent at $ 4,747 an ounce and silver was down 2.33 percent at $ 74.70 an ounce.
Analysts said gold is currently trading in the range of $4,700-4,750 on Comex and the upside potential is limited. A drop below $4,650 may lead to further decline and reach $4,600-4,570 levels. On the upside, resistance is seen near $4,750-4,770.
The weakness in gold and silver is being attributed to the rise in dollar index and crude oil.
The dollar index, which shows the strength of the US currency against the world’s six major currencies, was up 0.36 percent at 98.8. Due to its strengthening, the rupee opened with a fall of 55 paise against the American currency.
At the same time, crude oil has crossed $100 with a gain of more than 8 percent.
–IANS
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