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Gold, Silver Prices On May 12: Gold for the June 2023 contract fell 0.27 per cent to Rs 60,725 per 10 gram, while silver for the July 2023 contract declined 1.03 per cent to Rs 73,050 per kg on MCX.
Gold, Silver Rates Today, 12 May: Gold and silver prices were trading with a decline in futures trade on Friday. On MCX, gold for the June 2023 contract was down 0.27 per cent at Rs 60,725 per 10 grams, while silver for the July 2023 contract was down 1.03 per cent at Rs 73,050 per kg.
“Gold prices extend weakness for another day as it slips over half a per cent to settle at $2,015.5 an ounce,” said Prathamesh Mallya, deputy vice-president (research) for non-agri commodities and currencies, Angel One. happened. On Thursday, gold fell as the rival safe-haven dollar rose and raised bullion’s exposure to economic uncertainties.”
He said gold gained as data showed a rise in weekly jobless claims and the weakest annual increase in producer prices in two years last month. April for the first time in two years, but remained well above the Fed’s 2 percent target.
In the international market too, gold was trading down by 0.34 per cent at $2,008.70 an ounce, while silver was also trading down by 0.93 per cent at $24.02 an ounce.
“We expect gold to trade further towards 60,380 levels, breaking which can take the price towards 60,020 levels,” Mallya said.
