Gold Rates Down for 2nd Day in Ahmedabad; Silver Price Records Rs. 35000 Loss In 4 days; Check Feb 17 Prices

Gold rate in Ahmedabad today declined sharply for the second day in a row this week, with yellow metal prices tumbling by Rs. 26,000 per 100 grams. The demand for gold in Indian and global markets is weak due to sky-high prices and a major festival around the corner, which led to a drop in the gold rate today The US dollar index has been rising, putting pressure on Spot gold price,s which fell by 0.8% today.

Gold rate in Ahmedabad today

On 17th February, 22-carat gold rates in Ahmedabad slipped by Rs. 1400 per 10 grams to cost Rs. 1,42,000 per 10 grams, while the 24-carat gold rates declined by Rs.1530 to retail at Rs. 1,52,910 per 10 grams. Similarly, the 18-carat gold rates in Ahmedabad dropped by Rs. 1150 per 10 grams to cost Rs 1,16,180

For heavyweight quantities, 100 grams of 24-carat gold rates are now priced at Rs 15,29,100 after witnessing the decline of Rs 15,300, while the 22-carat gold fell by Rs 14000 to cost Rs 14,20,000. Just like that, 18-carat gold rates in Ahmedabad also experienced a fall of Rs.11,500 and currently retail at Rs. 11,61,800.

MCX Gold and Silver Futures Update

Gold futures on the Multi-Commodity Exchange (MCX) maturing on April 4th are trading in red at Rs. 1,51,800 after declining 1.91%. However, silver futures, which are set to expire on March 5th, are extending losses of 3.32% to trade at Rs. 2,31,933

MCX Gold April is expected to slip back towards Rs. 152,000- Rs. 150,000 level as long as it stays below Rs. 156,500 level. MCX Silver March is expected to slip towards Rs. 228,000- Rs. 225,000 level as long as it stays below Rs. 251,000 level." according to the ICICI Direct Commodity Research Report.

Silver Prices Today in Ahmedabad

Just like gold, silver prices today in Ahmedabad fell sharply for the 4th consecutive day. 1kg of silver fell by Rs. 8000 per KG and stood at Rs. 2,60,000. Meanwhile, 100 grams of silver is currently priced at Rs 26,000 across India, down by Rs 800.

Spot Gold and Spot Silver Price Today

As per the latest Reuters commodity report, "Spot gold dropped 0.8% to $4,953.90 per ounce by 0345 GMT, after losing 1% earlier in the session. U.S. gold futures for April delivery lost 1.5% to $4,972.90 per ounce. Spot silver fell 1.6% to $75.33 per ounce."

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