Today, gold prices declined almost 2 percent to $1833/oz surrendering its earlier gains. Strength in the US dollar acted as a negative factor for the yellow metal prices. The US dollar appreciated sharply by 0.6 percent, which made dollar denominated commodities to look expensive for the other currency holders. Gold touched an intra-day low of $1822/oz till 4.00 pm IST today. However, MCX Gold October contract rose 0.5 percent mainly on account of Rupee depreciation and touched an intra-day high of Rs28,391/10 gms around the same time.
Taking cues from fall in the gold prices, spot silver also slipped lower by 0.1 percent to $42.24/oz till 4.00 pm IST today, Moreover, a stronger dollar further pulled prices in the downward direction. MCX Silver December contract witnessed gains of 0.2 percent on the back of Rupee depreciation and was hovering around Rs 65,749/kg.
Taking cues from fall in the gold prices, spot silver also slipped lower by 0.1 percent to $42.24/oz till 4.00 pm IST today, Moreover, a stronger dollar further pulled prices in the downward direction. MCX Silver December contract witnessed gains of 0.2 percent on the back of Rupee depreciation and was hovering around Rs 65,749/kg.
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