Gold Price in India: Amid a slump in gold prices, domestic gold futures witnessed a volatile trading session on Wednesday, February 24. In the national capital, gold rates plunged ₹ 148 to Rs 46, 307 per 10 gm due to overnight selling in global prices, according to HDFC Securities. Silver prices also slumped by Rs 886 to Rs 68,676 per kg, as compared to the previous close of ₹ 69, 562. Multi Commodity Exchange (MCX) gold futures, due for delivery tomorrow, i.e., April 5, was last seen trading 0.87 per cent lower at ₹ 46,393, having swung between ₹ 46,268 and ₹ 46,857 during the session compared to their previous close of ₹ 46,802. Silver futures were trading marginally higher by 0.02 per cent at Rs 69,353. (Also Read: Is Silver The New Gold?)
“Spot gold prices for 24 karat gold at Delhi traded down by Rs 148 reecting overnight selling in global gold prices and rupee appreciation,” said Tapan Patel, HDFC Securities Senior Analyst (Commodities)
The spot rupee was trading around 12 paise stronger against the dollar. In the international markets, gold prices were trading steady at $1,807 an ounce and silver was almost flat at $27.63.