Significant changes have occurred in the prices of gold and silver over the last five trading days. It is crucial for those planning to purchase jewelry or invest in these precious metals to know the current market quotations. Price changes are observed both on the Multi Commodity Exchange (MCX) and in the domestic market.
On MCX, silver is selling at a price of 2.36 lakh rupees per kilogram, and gold is priced at 1.54 lakh rupees per 10 grams.
Analyzing the futures prices for silver with an expiry date of September 4th on MCX, it is evident that over five working days, the price of this metal increased from 2,31,466 rupees to 2,36,272 rupees per kilogram. Thus, the cost of 1 kg of silver has risen by 4,806 rupees.
Despite the noticeable rise over the week, the futures price for silver is still significantly below its historical high. Earlier this year, in January, this metal first exceeded the mark of 4 lakh rupees per kilogram, reaching a record level of 4,20,048 rupees. Compared to current figures, silver remains 1,83,776 rupees cheaper per kilogram.
Regarding gold on MCX, the price of the yellow metal with an October 5th expiry closed at 1,54,590 rupees per 10 grams following Friday's futures trading. This is compared to the price of 1,51,820 rupees recorded at the end of the previous working week. Consequently, the gold rate showed a change of 2,770 rupees.
After the completion of futures trading on MCX, let us examine the situation in the domestic market. According to data from the Indian Bullion Jewelers Association (IBJA.Com), the price of 24-carat gold for 10 grams rose from 1,49,621 rupees to 1,52,363 rupees per 10 grams on Friday. Simultaneously, the price of silver in the domestic market increased from 2,31,381 rupees to 2,33,842 rupees per kilogram.
