In the domestic bullion market, the price of gold has declined on Wednesday. According to HDFC Securities, in the national capital Delhi, the gold price has declined by Rs 108 on Wednesday. Due to this decline, the spot price of gold has gone up to Rs 48,877 per 10 grams. According to securities, this fall in gold prices has been recorded due to the strengthening of the rupee. Significantly, in the previous session, gold had closed at Rs 48,985 per ten grams.

However, the domestic bullion market silver price rose on Wednesday. The silver spot has gained Rs 144. The price of silver closed at Rs 65,351 per kg on Wednesday. In the previous session, silver had closed at Rs 65,207 per kg. 

The Indian rupee closed at 73.15 against the US dollar with a gain of 10 paise on Wednesday.

Talking about the international market, on Wednesday, the global price of gold showed an increase, trading at $ 1,857 an ounce. At the same time, silver appeared to trade steady at $ 25.48 an ounce. HDFC Securities Senior Analyst (Commodities) Tapan Patel said that global prices of gold saw an increase due to the fall in the dollar.

Gold in the futures market

Domestic futures prices of gold gained on Wednesday evening. On the MCX exchange on Wednesday evening, the gold price of futures on February 5, 2021 was trading up by 0.48 per cent, or Rs 233, at Rs 49,278 per 10 grams. Apart from this, the futures price of gold on April 5, 2021 was seen to be trading at Rs 49,280 per ten gram with a gain of 0.50 per cent or Rs 246.

Silver in the futures market

Unlike gold, domestic futures prices of silver fell on Wednesday evening. At this time, the silver futures on March 5, 2021 on MCX, was seen trading at Rs 65,700 per kg, down 0.36 per cent or Rs 239.