Gold prices fell for the second consecutive day amid improvement in the US dollar and prospects of easing tensions in the Middle East. The presence of gold in the domestic market also decreased behind the global markets. However, international silver declined marginally while domestic silver rose marginally. On the other hand, futures prices rose due to short covering at lower levels.
24 carat gold per 10 grams in ahmedabad. It was reduced to Rs 1200. 78,300 was done. Similarly, 22 carat gold is priced at Rs. 78,100 per 10 grams. Silver Rs. Rs 500 were increased. 90,000 per kg. In the international market, physical gold fell by $ 42 to $ 2,630 an ounce as against $ 2,672. Global silver fell 25 cents to $30.50 an ounce from $30.75.
In futures, December gold futures on MCX at Rs. Increase to Rs 88. 75,311 per 10 grams. Apart from this, a promise of Rs. 204 to Rs. ₹75,988 per 10 grams. MCX Silver December Contract Rs. Increased to Rs 844. 87,699 per kg and the March contract was Rs. Increase to Rs 825. 90,004 per kilogram. Late Tuesday night on Comex, gold was trading at $ 2,631.40 an ounce with a gain of $ 12.90. Silver was trading 36.6 cents up at $30.60 an ounce on the Comex.
A stronger dollar in international markets and reports of a possible Israel-Hezbollah ceasefire pushed gold prices to their lowest in more than a week on Tuesday, bullion experts said. Investors’ interest in bullion has waned amid prospects of easing geopolitical tensions. The dollar rose after Trump threatened Canada and Mexico to impose 25% tariffs on all imports into the United States.
Unlike the spot market, official buying was seen at lower levels in futures. Volatility was particularly high in silver. According to the chart, the Choppiness Index is trending downwards which indicates that volatility may increase in the coming days. Precious metals traders are suggesting more buying.
