The gold futures, due for delivery on 3 December, on Multi Commodity Exchange (MCX) witnessed a decline of 0.22 percent to fall to Rs 48,035 per 10 grams
Representational image. Reuters
The gold price today, 26 October, touched Rs 47,770, making it 0.34 higher than this week’s average gold price of Rs 47608.6.
The gold futures, due for delivery on 3 December, on Multi Commodity Exchange (MCX) witnessed a decline of 0.22 percent to fall to Rs 48,035 per 10 grams. The decline in MCX, mirroring international rates, has been due to an uptick in the US dollar. The MCX had previously closed at Rs 48,200.
The silver prices have also seen a decline, with silver futures on MCX falling to Rs 65689.00 with a decline of 0.68 percent. The silver MCX had closed at Rs 66,139 at the end of the previous session.
In the spot market, 24-carat gold was sold at an opening rate of Rs 48,346 for 10 grams, according to the India Bullion & Jewellers Association Limited. The rate given by the Association excluded GST (Goods and Services Tax).
The opening price for 22-carat gold was Rs 48,152 while 20-carat gold was priced at Rs 44,908 for 10 grams and 18-carat gold at Rs 36,107 for 10 grams. Meanwhile, pure silver prices opened at Rs 65,793.
Gold price today fell to $1,803.16 per Troy ounce, with a loss of 0.27 percent. The level crossed the average gold price for the past 30 days by a margin of 3.25 percent. The silver price also fell by 0.97 percent to $ 24.31 per Troy ounce.
The price of platinum per Troy ounce fell to $1,046.00 per Troy ounce, declining by 1.04 percent.
MCX prices in gold and silver had witnessed gain yesterday, 25 October. The trend witnessed a decrease in MCX future prices today, with the prices of both commodities undergoing losses. The US dollar rose by 0.1 percent, according to Hindustan Times, recovering during the previous session from a near one-month trough hit.