Again Sharp Fall In Gold And Silver Price

Gold and Silver Rate Today, 02 June 2022: On 2 June 2022, gold was trading with a sharp decline. The yellow metal is at its lowest level in the last two trading days. On MCX, gold futures are trading lower by 0.46 per cent or Rs 236 at Rs 50,611 per 10 grams. However, silver futures fell 0.50 per cent or Rs 308 to Rs 60,817 per kg.

Gold price increased by Rs 850 from May 18

According to the Indian Bullion and Jewelers Association (IBJA), gold of the highest purity was sold at Rs 51,125 per 10 grams in the spot market on Tuesday. Silver was sold at Rs 61,321 per kg. The spot price of gold has risen by around Rs 850 per 10 grams since May 18 before trading flat in the near future. Talking about silver, it has become cheaper by over Rs 1,200 per kg in just two sessions.

"The interest rate and dollar outlook for gold, and geopolitical concerns are important factors," said Michael McCarthy, chief strategy officer, Tiger Brokers, Australia. In May, the price of gold registered a decline for the second consecutive month.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.1 per cent to 1,068.36 tonnes on Tuesday as against Friday's 1,069.81 tonnes.

Also Read - New Pamban Bridge of Indian Railways is a classic example of an engineering marvel

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.