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Gold and silver price in MP: Silver prices rise by Rs 700, gold remains strong IG News

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Gold and silver price in MP: In Indore on Friday, gold was priced at Rs 62875 per ten gram and silver at Rs 72100 per kg.

Author: Lokesh Solanki

Date of publication: Sat, 10 Feb 2024, 02:50 (IST)

Update date: Sat, 10 Feb 2024, 02:50 (IST)

Gold and silver price in MP: Silver prices rise by Rs 700, gold remains strong

Gold and Silver Price in MP: Representative Naidunia, Idore. Silver prices rose on increased activity by investors and speculators in the futures market to hedge short contracts amid uncertainty about the Federal Reserve’s stance on rate cuts. In Indore, silver Chaurasa jumped by Rs 700 to cross 72 thousand again to reach Rs 72100 per kg. Comex silver futures were up 33 cents at $22.70 an ounce. Technically speaking, the silver market has seen short covering.

Traders closely monitor Fed signals, economic indicators and geopolitical developments that affect silver price dynamics. Here, gold prices remain high because the demand of people remains constant during the wedding season. In Indore, Cadbury gold remained firm at Rs 62,875 per ten gram, while Comex gold futures traded at $2,035 an ounce, down three dollars.

Jewelers believe that the wedding season is still a few days away, so there is not much hope for a major rise or fall in gold prices. In the last days of the week, speculators often close the market with jumps in foreign markets. On the Comex, gold traded above 2035 and below 2031 dollars per ounce, and silver above 22.70 and below 22.54 dollars per ounce.

Gold and Silver Closing Prices in Indore

Cadbury Rava gold quoted at Rs 63875 cash, gold (RTGS) at Rs 64300, gold (91.60 carat) at Rs 58900 for ten grams. On Thursday, gold closed at Rs 63850. While the price of Chandi Chauras was Rs 72100, Chandi Tunch was Rs 72250 and Chandi Chauras (RTGS) was Rs 72000 per kg. Silver closed at Rs 71400 on Thursday.

Gold and Silver Prices in Ujjain Bullion Market

Gold standard was priced at Rs 64950 and raw gold was priced at Rs 64850 for ten grams. At the same time, silver price was Rs 72300 and tunch silver was Rs 72200 per kg. The coin was priced at Rs 800 per piece.

Gold and silver prices in Ratlam bullion market

Gold standard was priced at Rs 64300 and raw gold was priced at Rs 64250 for ten grams. At the same time, Chauras silver was quoted at Rs 72200 and Tunch silver at Rs 72300 per kg.

  • ABOUT THE AUTHOR

    He started his career as a computer operator in Navbharat Indore in 1993. After that he joined Dainik Bhaskar as proofreader in 1995. In 1995, he worked as a page maker in the evening daily Agnibaan.

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