• Source:JND
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Gold, Silver Rate Today: Amid the subdued demand ahead of Akshaya Tritiya, precious metals--Gold and Silver prices dropped in the national capital's retail market on Friday. According to the All India Sarafa Association, the silver price declined by Rs 5,700 to Rs 2.53 lakh per kilogram in Delhi, while gold, 99.9 per cent purity, fell by Rs 1,600 to Rs 1.56 lakh per 10 grams.

According to a commodity market analyst, gold remained range-bound in the domestic futures market as well, with subdued price action as markets stayed cautious ahead of key updates expected over the weekend on current developments around US-Iran peace talks.

According to Jateen Trivedi of LKP Securities, the lack of fresh triggers kept gold in a sideways consolidation phase, despite underlying uncertainty.

"Overall, gold is likely to remain range-bound with a volatile bias, reacting sharply to any weekend developments," Trivedi added.

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MCX Gold, Silver Price Today

In the evening session on the Multi-Commodity Exchange, the precious metals prices were trading slightly higher. At the time of writing, MCX Gold, June 5 expiry, was trading at Rs 1,53,815 per 10 grams, up 0.43 per cent. MCX Silver, May 5 expiry, was quoted at Rs 2,53,696, up 2.04 per cent.

Spot Gold Price

On international markets, the spot price of gold fell slightly to $4,786.90 an ounce, while that of silver rose 1.12% to $79.28 an ounce.

"Gold maintained a negative bias on Friday, remaining below the USD 4,800 mark as upside momentum weakened," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

Despite some positive developments, prices have failed to maintain their high levels, indicating a loss of appeal for gold, Gandhi said.

Furthermore, gold has been pressured by a relatively strong US dollar and stable Treasury yields, as markets remain cautious amid ongoing uncertainty surrounding the situation in the Strait of Hormuz.

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"While hopes for renewed negotiations provided some underlying support, the absence of clear progress left investors on the sidelines," he added.

COMEX Gold and COMEX Silver: Last Seen, COMEX Gold was trading at $4,839.10, up $30.80 or 0.64 per cent. COMEX Silver was quoted at $80.220, $1.51 or 1.92 per cent.


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