Gold and Silver Prices in India: If you are looking to buy Gold then this news is for you. The Gold price on Thursday declined for the first time in six days following changes in international gold prices and the dollar's appreciation against other major currencies.
According to the Multi Commodity Exchange (MCX), the Gold August futures trade 0.51 percent below at Rs 47,665 per 10 gram as of 10:15 am as compared to a previous closing price of Rs 47,910.
The Silver September futures went down by 0.92 percent at Rs 68,730 per kg as compared to the previous closing price of Rs 69,365.
On Wednesday, July 7, 2021, the gold price settled higher in support of the steady dollar. However, the international gold price declined on Thursday as the stronger dollar weighs on the precious metal.
As per the report, the dollar index was higher by 0.10 percent at 92.74.
Meanwhile, the Spot gold was down by 0.23 percent at $1,797.80 while spot silver fell by 0.51 percent to $25.997.
As per the report regarding the gold and silver prices in India, the gold futures may find support near Rs 47,600 level which is 100 EMA level on the daily chart.
Until the price of yellow metal holds above this level, the rate could witness a rally towards the Rs 48,500 level, an analyst said.