mcx gold rate today: Gold and silver prices have seen a decline today i.e. on Tuesday. This decline has been seen due to the increase in the possible interest rates of the UF Fed Reserve (US Fed).
MCX Gold Rate Today: US Fed Reserve may increase interest rate by 25 basis points this month. This one news has put a check on the rise in gold prices. Gold became a victim of profit-booking in the domestic and international markets on Tuesday morning. This morning, the gold futures contract June 2023 was trading at a level of Rs 59,743 per 10 grams, down by Rs 21 on MCX. 1,600 cheaper than its highest tier. Let me tell you, the life time high of gold is Rs 61,371 per 10 grams.
Fall in silver prices (mcx silver price today)
Apart from gold in MCX, the prices of silver have also seen a decline. Today, silver opened with a fall but in no time it reached an intra-day low of Rs 74,053 per 10 grams. Silver was down 0.36 per cent in early trade. Let us tell you, the rate of silver in the international market on Tuesday is $ 24.60 per ounce.
What is the opinion of the expert?
Commenting on today’s fall in gold and silver prices, Anuj Gupta, Vice President (Research), IIFL Securities, says, “The market is feeling that the US Fed Reserve may increase the interest rate by 25 basis points in the next meeting. For this reason, there has been a fall in the prices of gold. The US dollar has also strengthened ahead of the US Fed Reserve meeting.
Anuj Gupta says, “If silver is able to cross the level of $ 26 an ounce, then it can go up to the level of $ 27 to $ 28 this week. At the same time, gold can reach the level of $ 2030 an ounce if it crosses the level of 2010 dollars an ounce.
