HIGHLIGHTS

• Gold stands at Rs 45,930 per 10 grams on the MCX today.
• Silver is retailing at Rs 59,388 per kg on the MCX.
• Globally, gold prices hit a more than five-week low on Monday.

On the Multi Commodity Exchange (MCX), both gold and silver are trading on the lower side today. Recording a marginal dip of Rs 41 or 0.09 per cent, gold futures, maturing on October 5, 2021, stand at Rs 45,930 per 10 grams.

Meanwhile, silver futures, maturing on December 3, 2021, are trading at Rs 59,531 per kg, witnessing a huge dip of Rs 590 or 0.98 per cent.

On Friday, gold futures, maturing on October 5, 2021, stood at Rs 46,100 per 10 grams, while silver was at Rs 61,168 per kg, witnessing a hike of Rs 162 or 0.27 per cent.

Gold and Silver prices on international market:

As per Reuters, gold prices hit a more than five-week low on Monday as the dollar firmed with markets closely watching a U.S. Federal Reserve meeting for clues on when the bank will start tapering its crisis-era stimulus measures.

The spot gold fell 0.3 per cent to $1,748.69 per ounce by 0312 GMT. The prices had touched $1,741.86 earlier in the session, their lowest level since August 12. Meanwhile, U.S. gold futures fell 0.1 per cent to $1,749.00.

The dollar index hit a near one-month high, hurting gold’s appeal for holders of other currencies.

The market is starting to think that a taper announcement could be imminent and that there could be a hawkish surprise in the dot plots, Stephen Innes, managing partner at SPI Asset Management, said.

Elsewhere, silver fell 1.2 per cent to $22.13 per ounce, after earlier hitting its lowest level since November 2020 at $22.01.

Gold and Silver prices in India: