There is a sharp decline in gold in Indian markets on Friday as well. With this, this is the fourth consecutive day of decline in gold. On the MCX exchange, on Friday morning, gold futures of April 3, 2020, showed a sharp fall of Rs 746 and trended at Rs 41460 per 10 grams. The gold futures on June 5, 2020, down by Rs 765 to trade at Rs 42,058 per 10 grams. Along with this, the effect of selling in the equity markets has also affected gold, due to which the drop in prices was seen. Hold prices have fallen by about Rs 2,000 per 10 grams in just two days.
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Talking about the futures price of silver, it is also seen a tremendous decline. On May 5, the silver futures on May 5, 2020, on MCX, was down by 2.76 percent, or Rs 1218, at Rs 42,921 per kg. At the same time, silver futures were trending down by 2.87 percent or Rs 1280 to Rs 43,390 per kg on July 3, 2020. Gold price in India had declined by Rs 1100 per 10 grams in the previous session, While the price of silver fell by Rs 1,600 per kg.
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On the international level, the spot price of gold was seen trending at $ 1555.42 an ounce, down 1.3 percent on Friday morning. It saw a drop of 3.6 percent in the previous session. Globally, it was trending at $ 15.64 an ounce on Friday morning, down 1.18 percent or 0.19 percent.
