Gold and Silver Rate Today April 2
Gold and Silver Rate Today April 2: On Thursday, April 2, the price of gold and silver suddenly dropped, following gravity in the world bullion markets and the impact of a stronger US dollar. Gold June futures were trading at 1,52,490 per 10 gram, 0.79, or 1,218 lower than the close of 1,53,708 at the Multi Commodity Exchange (MCX). Silver May futures also began on a weak note, slipping ₹701, or 0.28%, to ₹2,42,800 per kilogram from ₹2,43,501. The decline trend was a sign of caution by investors in the face of global uncertainties.
Gold and Silver Rate Today April 2: As the trading developed, there was an increase in the selling pressure in both precious metals. MCX gold fell by more than 2 percent and stood close to 1.50 lakh mark per 10 grams. Silver plummeted even further, by more than 12,000, or more than 5 per cent., to fall below 2.32 lakh per kilogram. This sudden correction was significantly caused by world signals such as geopolitical friction and an upsurge in the US dollar that usually has a negative impact on the price of bullion by making it costly to other currency holders. Gold and silver also fell in the global market following the positive comments of US President Donald Trump of possible military intervention on Iran. Spot gold dropped 1.3% to about 4695 per ounce and silver dropped 2.7 to about 73 per ounce. In India, according to the data of the Indian Bullion Association (IBA) at 13.10 PM, 24-carat gold was selling at 149,360 rupees per 10 grams, and 22-carat gold was priced at 135,080 rupees per 10 grams. Silver (999 fine) was quoted at ₹2,29,170 per kilogram.
Gold and Silver Rate Today April 2: There were small fluctuations in price of gold and silver in major metros in the city. In Mumbai, 24K gold was priced at ₹1,47,790 per 10 grams, while in Delhi it stood at ₹1,47,540. At 1.48,160, there were slightly higher rates in Chennai, and in Bengaluru, prices were about 1.47,840. Silver rate was maintained between ₹2.272.28 lakh per kilogram in cities. Analysts opine that gold will be range bound between 1,35 000 and 1,57 000 in the short run, but silver has resistance at 2.33 lakh. The future of the markets will be based on the future US economic data and the current trends in geopolitics.
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