New Delhi: Gold and silver prices have registered a decline in the domestic market on Thursday. Due to the strengthening of the dollar, gold demand has come down and this had an impact on the domestic market. Because of the dollar being expensive, the demand for gold decreases. Because other currency holders have to buy gold at a higher price.
On Thursday, gold fell 0.36%, ie Rs 177, to Rs 48,688 per ten grams in MCX, while silver declined by 1% and fell by Rs 666 to Rs 65,870 per kg. Gold spot sold at Rs 48814 per ten gram at Sarafa Bazar in Ahmedabad, while gold futures were priced at Rs 48740 per ten gram. On Wednesday, gold fell by Rs 231 to reach Rs 48,421 per 10 grams in Delhi market. Silver fell by Rs 256 to Rs 65,614 per kg.
In the global market, gold and silver prices remained at $ 1,850 and $ 25.41 an ounce, respectively. Prior to the US Federal Reserve's monetary policy decision, gold price stability showed. For the past few weeks, gold prices have remained consistently below Rs 50,000 per 10 grams. At the beginning of January this year, gold prices had reached 51,660, but now gold remains around 48,500 per 10 grams.