India Breaking Buzz

Today, February 28, 2024, saw a decline in the price of gold and silver on the MCX

<p>Both the values of gold and silver experienced a descent on the Multi Commodity Exchange (MCX) on the distinguished Wednesday of February 28, 2024.</p>
<p><img decoding=”async” class=”alignnone wp-image-455067″ src=”” alt=” today february 28 2024 saw a decline in the price of gold and silver on the mcx go 1″ width=”708″ height=”398″ title=”Today, February 28, 2024, saw a decline in the price of gold and silver on the MCX 9″ srcset=” 690w,×220.jpg 390w,×84.jpg 150w” sizes=”(max-width: 708px) 100vw, 708px” /></p>
<p>The gold futures, reaching maturity on April 5, 2024, presented itself at Rs 62,195 per 10 grams on the MCX, exhibiting a marginal decline of Rs 106 or 0.17 percent. The preceding closure was documented at Rs 62,301.</p>
<p>Meanwhile, the silver futures, set to mature on March 5, 2024, underwent a descent of Rs 205 or 0.30 percent, retailing at Rs 68,880 per kg on the MCX, in contrast to the prior closure of Rs 69,085.</p>
<th>GOLD (per 10 grams, 22 carats)</th>
<th>SILVER (per kg)</th>
<td>NEW DELHI</td>
<td>Rs 57,740</td>
<td>Rs 73,900</td>
<td>Rs 57,590</td>
<td>Rs 73,900</td>
<td>Rs 57,590</td>
<td>Rs 73,900</td>
<td>Rs 58,160</td>
<td>Rs 75,400</td>
<p>The pricing of gold and silver in India is contingent upon various factors, notably including the valuation of the rupee against the dollar. Additionally, global demand assumes a pivotal role in shaping the observed trends in the valuation of precious metals.</p>
<p>Gold prices exhibited stability on the aforementioned Wednesday, as diminished U.S. Treasury yields partially counteracted a more robust dollar. Meanwhile, traders anticipated key inflation data and statements from Federal Reserve officials throughout the week to ascertain when the central bank is poised to reduce rates, as reported by the news agency Reuters.</p>
<p>As per the latest metallurgical report, spot gold was positioned at $2,030.57 per ounce by 0355 GMT, whereas U.S. gold futures experienced a 0.2 percent decline, reaching $2,039.70.</p>
<p>In the realm of other esteemed precious metals, spot silver demonstrated a modest 0.1 percent ascent, reaching $22.45 per ounce.</p>

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