Gold, Silver Rates Today LIVE: Gold and silver prices on Multi Commodity Exchange of India (MCX) extended rally on Wednesday, following gains in international bullion prices, supported by a softer US dollar.
MCX gold rate for April futures contracts opened 3% higher at ₹1,58,420 per 10 grams as against its previous close of ₹1,53,809 level. MCX gold price touched a high of ₹1,60,755 level, rising as much as 4.51%.
MCX silver price for March futures contracts opened higher by ₹10,000, or 3.73%, at ₹2,78,015 per kilogram as against its previous close of ₹2,68,015 level. The white metal price jumped as much as 6% to an intraday high of ₹2,84,094 level. MCX silver price was trading higher by ₹13,284, or 4.96%, at ₹2,81,299 per kg.
Comex Gold, Silver Prices
The gains in global gold and silver prices continued further on Wednesday amid a weak US dollar. Gold prices rose more than 2% after clocking its best day since 2008 in the previous session.
Spot gold price rose 2.2% to $5,044.74 per ounce, after gaining 5.9% on Tuesday, its biggest daily gain since November 2008. Bullion scaled a record high of $5,594.82 last Thursday. US gold futures for April delivery climbed 2.7% to $5,067.0 per ounce.
Spot silver price rose 2.1% to $86.92 an ounce. Silver price has declined more than 28% from its record high level of $121.64 hit on Thursday.
Meanwhile, the dollar fell against most major currencies except the yen, after the recent gains fuelled by upbeat US data and expectations of a less-dovish Federal Reserve. A weaker dollar makes greenback-priced bullion more affordable for holders of other currencies.
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