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Gold, silver turn cheaper on Dhanteras amid profit-booking, firm dollar

Reported by: Business Standard ·

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Multi Commodity Exchange of India

Summary

Business Standard reported that gold and silver turned cheaper on Dhanteras, a day when buying the metals is traditional, amid profit-booking and a firm dollar. On the Multi Commodity Exchange (MCX), gold futures traded near ₹1,42,450 per 10 gram and silver futures near ₹1,84,600 per kg. Profit-booking means holders selling to lock in gains after a rise, which can pull prices down. A firm dollar means the US currency is strong; gold and silver are priced in dollars globally, so a stronger dollar often makes them costlier for buyers using other currencies. Futures are contracts to buy or sell a commodity at a set price on a later date, and MCX is the exchange where these contracts trade in India. The report gives no further figures or reasons.

AI summary of what Business Standard reported. AI can make mistakes. Read the full story on Business Standard

Learn: F&O, and why most individual traders lose

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Business Standard  · · Tone 0

Gold, silver turn cheaper on Dhanteras amid profit-booking, firm dollar

In the domestic market, gold futures on the Multi Commodity Exchange (MCX) were trading near ₹1,42,450 per 10 gram, while silver futures were trading near ₹1,84,600 per kg

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  • futures

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    Learn: F&O, and why most individual traders lose

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