Gold Prices Today Fall, Silver Rates Edge Lower, Check Latest Price Here

By WEB DESK Last updated Dec 31, 2020

Gold and silver prices edged lower today in Indian markets but are on track for strong gains for the year. On MCX, gold futures declined 0.08% to ₹50,097 per 10 gram while silver futures edged lower 0.12% lower to ₹68,531 per kg. Gold has remained in a narrow range for the past two weeks, trading between ₹50,000 and ₹50,500.

In global markets, gold prices were higher today, supported by a weaker US dollar. Gold for immediate delivery was 0.2% higher at $1,897.67 an ounce. The precious metal is up about 24% this year and is poised for its biggest gain in 10 years. In India, gains have been higher, at 27%, due to the rupee’s depreciation against the US dollar. India imports most of its gold imports.

The latest tranche of sovereign gold bonds, which is currently open for subscription, will close on January 1. The issue price per gram of gold has been fixed at ₹5,000 by the Reserve Bank of India. Investors who apply online and make payment against the application through digital mode get a discount of ₹50 per gram.