Gold, silver prices today: Precious metals witness dip on MCX | Check latest rates here
India Today
On Tuesday, March 15, 2022, both gold and silver are trading on the lower side of the Multi Commodity Exchange (MCX). Check the latest city-wise prices here.
Both gold and silver are trading on the lower side of the Multi Commodity Exchange (MCX) on Tuesday, March 15, 2022.
Witnessing a marginal drop of Rs 363 or 0.69 per cent, gold futures maturing on April 5, 2022, are retailing at Rs 52,080 per 10 grams on the MCX.
Meanwhile, the rate of silver futures, maturing on May 5, 2022, stood at Rs 68,576 per kg, recording a drop of 0.57 per cent or Rs 395.
Notably, the prices of gold and silver stood at Rs 52,304 per 10 grams and Rs 68,844 per kg respectively when the market closed on March 14.
As per Reuters, gold prices fell on Tuesday to their lowest in more than a week, as U.S. Treasury yields surged ahead of an expected rate hike from the Federal Reserve. Moreover, hopes for progress in Russia-Ukraine talks further dampened the metal's safe-haven appeal.
As per the latest metal report, spot gold was down 0.4 percent at $1,942.96 per ounce, after touching its lowest since March 4 at $1,940 earlier in the session. Meanwhile, U.S. gold futures fell 0.5 percent to $1,951.20.
Notably, gold is highly sensitive to rising U.S. interest rates, which increases the opportunity cost of holding non-yielding bullion, news agency Reuters reported.
