Top News

Gold and silver prices have declined compared to earlier levels. During yesterday's trading session, prices for both metals fell in the futures market, halting a two-day rally for gold.

After a two-day rise, the price of gold in the futures market fell by ₹431 on Friday, settling at ₹1,55,344 per 10 grams. The decline occurred as investors adopted a cautious stance ahead of the release of US non-farm payroll data. On the Multi Commodity Exchange (MCX), gold futures for October delivery dropped by ₹431 (0.28%) to ₹1,55,344 per 10 grams.

Why did gold prices fall?

According to traders, the price drop was driven by profit-booking following the recent rally. Additionally, investors remained cautious ahead of the US non-farm payroll data, which could provide fresh signals regarding the US Federal Reserve's stance on interest rates.

It is worth noting that this is a crucial economic data point released by the US Department of Labor; it reflects the total number of new jobs added to the economy in the previous month, excluding the agricultural sector, private household employees, and staff at non-profit organizations (NGOs).

Meanwhile, on the global stage, COMEX gold futures for December delivery in New York saw a marginal decline, settling at $4,528.54 per ounce. Gaurav Garg, Head of Research at brokerage platform Lemon, stated, "The market is keeping a close watch on the US non-farm payroll data, which could determine the future direction of the dollar, bond yields, and precious metals."

Silver prices

Amidst profit-booking and cautious sentiment in global markets, the price of silver in futures trading fell by ₹749 on Friday, settling at ₹2,41,600 per kilogram. Meanwhile, the rally in silver prices observed over the past two days has come to a halt.

On the Multi Commodity Exchange (MCX), the futures price of silver for December delivery fell by ₹749 (0.31%) to ₹2,41,600 per kilogram. Analysts attributed the pressure on silver prices to profit-booking by investors following the recent surge.

Retail Prices of Gold and Silver Today

Today, the price of 24-carat gold stands at ₹1,56,670 per 10 grams, up ₹10 from yesterday. Similarly, the price of 22-carat gold is ₹1,43,610 per 10 grams, which is also up by ₹10 from yesterday.

On the other hand, the price of silver has dropped by ₹1 today to ₹2,499 per 10 grams. Consequently, the price for 100 grams of silver is ₹24,990 today, down from ₹25,000 yesterday. Likewise, the price of 1 kilogram of silver stands at ₹2,49,900, down ₹100 from yesterday.