COMMODITY MARKET UPDATES-GOLD V/s SILVER: On the lower side of the Multi Commodity Exchange, gold and silver are trading (MCX). On Wednesday, the MCX saw a decline in the price of precious metals.
On the MCX on Wednesday, gold futures with a maturity date of April 5, 2023, saw a decline of Rs 250 and 0.4%. Retail prices are Rs 56,666 for 10 grammes.
Silver futures with a March 3, 2023, maturity fell by Rs 294 (0.44%) and were currently trading at Rs 66,086 per tonne. When the market closed on Tuesday, silver was trading at Rs 66,251 per kilogramme on the MCX, while gold was trading at Rs 56,750 per 10 grammes.
Notably, the value of the rupee against the dollar is just one of many variables that affect the price of gold and silver in India. The changes seen in the price of precious metals are also heavily influenced by global demand.
Gold Price as of February 15: Delhi - Rs 57,310 , Mumbai Rs 57,160 , Chennai – Rs 53,150, Kolkata – Rs 57,160, Bangalore - Rs 57,210 , Ahmedabad – Rs 57,210 and Hyderabad- Rs 57,160
Silver Price Price as of February 15: Delhi - Rs 69,950 , Mumbai – Rs 69,950 , Chennai – Rs 72,000, Kolkata – Rs 69,950, Bangalore - Rs 72,000 Ahmedabad – Rs 69,950 and Hyderabad- Rs 72,000
COPPER FUTURE ON MCX: On the Multi Commodity Exchange, copper contracts for February delivery eased by Rs 8.25 or 1.06% to Rs 769.90 per kg in a business turnover of 3,750 lots. Copper futures on February 15 fell by Rs 8.25 to Rs 769.90 per kilogram as participants cut their positions amid muted demand in the domestic market.
Rupee depreciates 12-ps to 82.90 against US dollar
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