HIGHLIGHTS

• Gold is trading at Rs 46,439 per 10 grams on the MCX.
• Silver stands at Rs 60,616 per kg on Thursday.
• Globally, gold prices eased on Thursday and the dollar index hit one-month high.

Gold and silver have recorded a dip on the Multi Commodity Exchange (MCX) on September 23, 2021. Gold futures, maturing on October 5, 2021, stand at Rs 46,439 per 10 grams, with a downfall of 0.75 per cent or Rs 349.

Meanwhile, silver futures, maturing on December 3, 2021, are trading at Rs 60,616 per kg and witnessed a dip of 1.07 per cent or Rs 656.

While gold stood at Rs 46,651 per 10 grams, silver traded at Rs 60,890 per kg with a jump of 0.75 per cent or Rs 451. The prices of gold and silver stood at Rs 46,672 and Rs 61,180 respectively when the market closed on September 22, 2021.

Gold and silver on international market:

On the international front, gold prices went down on Thursday after the U.S. Federal Reserve dropped hints that it would ease monthly bond purchases by 2022. According to reports, the interest rates could also see a jump which could increase the opportunity cost of holding the non-yielding bullion.

Meanwhile, the dollar index hit a one-month high and gold’s appeal has been diminished, stated the reports. On the other hand, spot gold traded on the lower side and was down 0.3 per cent at $1,762.33 per ounce and U.S. gold futures slipped 0.9 per cent to $1,762.10.

On Wednesday, the U.S. Central Bank in a policy statement stated that it could start reducing bond purchases in November. Reports also suggested that most of the Fed officials are ready to increase interest rates next year due to inflation.

Meanwhile, silver went down by 0.5 per cent to $22.55 per ounce and platinum also fell 0.4 per cent to $993.13 in the international market.

Gold and Silver prices in India: