Gold and Silver Prices Today, August 30, 2023: Mixed Trends Emerge as Gold Sees Uptick and Silver Dips on MCX”

Gold and Silver Prices Today ;In the Indian markets, precious metals displayed a mix of trends. Gold exhibited an upward trajectory on the Multi Commodity Exchange (MCX), while silver prices experienced a decline on Wednesday, August 30.

Gold futures maturing on October 5, 2023, settled at Rs 58,282 per 10 grams on the MCX, reflecting a slight increase of Rs 64 or 0.11 percent.

On the other hand, silver futures due on September 5, 2023, witnessed a decrease of Rs 60 or 0.08 percent, trading at Rs 74,500 per kg on the MCX, compared to the previous close of Rs 74,685.

The closing rates on August 29 stood at Rs 58,887 per 10 grams for gold and Rs 74,685 per kg for silver.

Gold and Silver Prices Today

Gold and silver prices in India are influenced by various factors, including the rupee’s value against the dollar and global demand. These factors collectively shape the trends observed in the rates of precious metals.

Internationally, gold prices held close to three-week highs on Wednesday as investors scaled back their expectations of future increases in U.S. interest rates following weak economic data. This week, further information is being awaited to assess the economic outlook, according to Reuters.

The latest metal report indicates that spot gold increased by 0.6 percent to $1,936.17 per ounce by 0328 GMT, reaching its highest level since August 7. In tandem, U.S. gold futures edged up 0.6 percent to $1,964.30.

In the category of other precious metals, spot silver declined by 0.4 percent to $24.63 per ounce.

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