Tue. Jan 31st, 2023

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Gold prices today flat after big fall in 2 days, silver rates higher

1 min read
gold silver

Five hundred gram silver bars sit next to one thousand gram gold bars in an arranged photograph at the Istanbul Gold Refinery in Istanbul, Turkey, on Thursday, May 12, 2011. Both the precious metals, silver and gold, rose today on stockists buying for the ongoing marriage season, amid a firming global trend. Photographer: Kerem Uzel/Bloomberg via Getty Images

Gold and silver prices edged higher in Indian markets today after a sharp fall in the previous session. On MCX, October gold futures rose 0.23% to 50,940 per 10 gram while silver futures were up 0.75% to 68,770 per kg. In the previous session, gold futures had slumped 650 per 10 gram to extend losses to the second day while silver prices had crashed 2650 per kg. Gold prices in India have corrected sharply from their record highs of 56,200 hit last month.

Gold prices were flat today in global markets after a 1.4% drop in the previous session. Spot gold inched up 0.1% to $1,944.58 per ounce, held steady by worries over the global economic recovery. Data released on Wednesday showed US private employers hired fewer workers than expected in August, suggesting that the labor market recovery was slowing.

Among other precious metals, Silver eased 0.1% to $27.48 per ounce, platinum rose 0.1% to $906.69 and palladium fell 0.3% to $2,241.10.

A stronger US dollar put pressure on gold prices. The dollar index, which measures the dollar’s performance against a basket of six currencies, rose to 92.852, making gold costlier for holder of other currencies.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.