After edging higher in the Indian market on Monday, silver and gold began to trade on the lower side on May 25, 2021. According to the Multi Commodity Exchange (MCX), gold futures maturing on June 4 stand at Rs 48,425 per 10 gram, witnessing a dip of 0.27 per cent or Rs 131.
Alternatively, the price of silver futures maturing on July 5 stands at Rs 71,510 per kg. On Monday, Silver observed an increase of Rs 472 or 0.66 per cent. Due to this chance, Silver went down by 0.50 per cent or Rs 362 on May 25. However, on Monday, the gold market closed at Rs 48,553 and the silver market at 71,811.
Gold and Silver Prices In The International Market
Also, in the global market, on Monday, the Gold observed a hike of 2% to $1,881.25 per ounce and edged lower on the next day. Prices tend to dip as the assumptions of a quick economic recovery lifted demand for riskier assets, although a weaker dollar and lower U.S. Treasury yields limited losses for the safe-haven metal. However, the U.S. gold futures fell 0.3 per cent to $1,879 per ounce.
According to the reports by Reuters, “the dollar was observed near four-month lows against major currencies, making gold cheaper for other currency holders. After a few Federal Reserve officials affirmed their support to keep monetary policy accommodative for some time, the U.S. Treasury long-dated yields also went down to two-week lows.”