Gold Price Today – MCX Gold Jumps ₹6,900 & Silver Hike ₹15,000 Today

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Gold-Silver Rate: After four consecutive days of decline, gold and silver prices have started to rise again. Gold and silver prices surged today, February 4th. As soon as the MCX market opened, gold and silver prices rose sharply. Both precious metals became more expensive as futures trading began on the Multi-Commodity Exchange. While the price of 1 kg of silver increased by more than Rs 15,000 compared to its previous close, 24-karat gold also suddenly became Rs 5,000 more expensive. On MCX, April-delivery gold was trading at Rs 159,999.00 at 11:00 AM, up by Rs 6,190. Similarly, the March delivery of silver was at Rs 2,80,600, a surge of Rs 12,585.

Why is the Gold Rate Increasing?
Increased tensions between the US and Iran and a weaker dollar have provided significant support to gold and silver prices. On MCX, at 10:30 AM, it was trading at Rs 1,59,638, up by Rs 5,829. March 5th delivery silver was at Rs 2,82,707 at 10:30 AM, up by Rs 14,692.

How much more expensive has silver become in two days?
Until February 2nd, silver had fallen by about Rs 2 lakh in just 4 days, but after that, a strong recovery was seen. On Tuesday, silver with a March 5th expiry on MCX closed at Rs 2,68,801 per kg after a sharp surge, and on Wednesday, it opened at Rs 2,84,094. In one go, it became Rs 15,293 per kg more expensive. By last Monday, the price of 1 kg of silver had fallen to around ₹2.25 lakh, but the rally that began from this low level has increased the price of silver by approximately ₹60,000 per kg in just two trading days.

Now, regarding the price of gold, the MCX gold rate closed at ₹1,53,809 on the last trading day, and as soon as trading began in the futures commodity market on Wednesday, the price of 10 grams of 24-karat gold jumped to ₹1,60,755 per kg. This represents an increase of ₹6,946.

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