Both gold and silver are trading on the lower side of the Multi Commodity Exchange (MCX) on Thursday, April 28, 2022.

Witnessing a marginal drop of Rs 242 or 0.47 per cent, gold futures maturing on June 3, 2022, are retailing at Rs 51,089 per 10 grams on the MCX.

Meanwhile, the rate of silver futures, maturing on July 5, 2022, stood at Rs 64,900 per kg, recording a drop of 1.15 per cent or Rs 749.

Notably, the prices of gold and silver stood at Rs 51,199 per 10 grams and Rs 65,290 per kg respectively when the market closed on April 27.

INTERNATIONAL MARKET RATES

As per Reuters, gold slipped to a more than two-month trough on Wednesday as the dollar rallied on expectations of aggressive monetary policy tightening by the U.S. Federal Reserve.

As per the latest metal report, spot gold fell 0.8 percent to $1,890.29 per ounce, after dropping to $1,881.45, its lowest level since Feb 24.

Meanwhile, U.S. gold futures settled down 0.8 percent at $1,888.7.

PRICES IN MAJOR INDIAN CITIES