Gold and silver prices fell on Monday on the Multi Commodity Exchange of India (MCX). Investors booked profits after last week’s price rise, and a strong US dollar added pressure. Check Gold, Silver Rates Today LIVE for the latest updates.
MCX Gold and Silver Rates Today
- Gold (April futures) opened at ₹1,54,999 per 10 grams, down from ₹1,55,895.
- Silver (March contracts) dropped to ₹2,38,489 per kg from ₹2,44,360.
- Prices are moving lower after last week’s gains as traders take profits.
Why Are Gold and Silver Prices Falling?
Gold and silver prices dropped in the global market because:
- The US dollar became stronger.
- Investors booked profits after recent gains.
- Spot gold fell 0.4% to $5,020.10 per ounce.
- US gold futures for April delivery decreased 0.1% to $5,039.50 per ounce.
- Spot silver dropped 0.6% to $76.92 per ounce.
US inflation came out cooler than expected, which may lead to interest rate cuts by the Federal Reserve. Lower rates usually help gold and silver, but the strong dollar makes bullion more expensive for other currencies.
Other Precious Metals
- Platinum fell 0.4% to $2,054.35 per ounce.
- Palladium rose 0.4% to $1,692.20 per ounce.