Gold Price Today: Gold fell sharply on Wednesday due to the fall in the rupee. According to HDFC Securities, gold rose by Rs 111 on Wednesday. With this rise, the price of gold reached Rs 50743 per ten gram. In the previous trading day, gold had closed at Rs 50632 per ten grams. On Wednesday, the rupee weakened 35 paise to close at 74.76 against the dollar.
Big fall in silver as opposed to gold
Silver was seen on Wednesday, unlike gold. Silver fell by Rs. 1266 to Rs. 60669 per kg. It had closed at a price of Rs 61935 per kg in the previous trading day.
Big fall in Indian futures market
With the counting of the US presidential election, gold fell in India’s futures market. Gold for December delivery on MCX dropped by Rs 248 to Rs 51350. The futures for February fell by Rs 268 to Rs 51444 and the April 2021 price fell by Rs 720 to Rs 51091.
Gold falls in international market
Talking about the international market, gold fell at $ 1895 (1,41,284.66) per ounce (1 kg = 32.27 ounces). Silver also fell to $ 23.60 (Rs 1,759.65) per ounce. According to HDFC Securities Senior Analyst (commodities) Tapan Patel, there was uncertainty about the results of the US presidential election, which led to the fall in gold prices.