Gold Silver Rate Today: The fall in the prices of gold and silver is being seen again this week and they are trading much below the upper levels. A significant decline was recorded in the rate of gold and silver on Friday as well. This fall in the rate of gold and silver is coming due to the decrease in global demand.

How are the gold prices on the Multi Commodity Exchange?

Today, gold on MCX remains at a decline of around Rs.120. Gold has slipped by Rs 117 to Rs 59192 per 10 grams and remains down by 0.20 per cent. Gold has fallen to Rs 59172 at the bottom and went up to the rate of Rs 59255 per 10 grams at the top. These gold prices are for its August futures.

how cheap is silver on mcx

Silver prices have slipped on MCX and it is down by Rs 320 to Rs 74650 per kg. A big decline of 0.43 percent has been recorded in silver today. Silver had gone up to Rs 74620 per kg at the bottom and its rate had reached up to Rs 74800 per kg at the top. These rates of silver are for its September futures.

Why is this decline in gold and silver

The Federal Reserve meeting is about to take place in the US and it is believed that the Fed may once again increase the interest rates. The Federal Reserve is planning to bring the interest rates again in an increasing order as the inflation data in the US is seeing a rise again. Due to the possibility of Fed raising the rates, the dollar is currently on a rise and whenever the price of the dollar rises, the price of precious metals declines. This is the reason that at present both gold and silver precious metals are trading in their lower range.

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