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Silver, gold retreat from record highs on strong US dollar, weak...

Share FacebookTwitterWhatsAppPinterestLinkedinCopy URLTelegramEmailTumblrReddItPrintKoo New Delhi, Jan 16 : Silver futures ended their five-day record-breaking rally and declined by Rs 4,027 to Rs 2,87,550 per kg on Friday, while gold prices slipped to Rs 1,42,601 per 10 grams as investors booked profits tracking weak global trends and a stronger US dollar. On the Multi Commodity Exchange (MCX), silver futures for March delivery declined by Rs 4,027, or 1.38 per cent, to Rs 2,87,550 per kilogram in a business turnover of 9,890 lots. The white metal had touched an all-time high of Rs 2,92,960 per kilogram on Thursday.

Silver, gold retreat from record highs on strong US dollar, weak...

Credit: Dailyexcelsior

Key Highlights

  • Commodities trading on the MCX remained shut during the morning session on Thursday due to civic elections in Maharashtra and later resumed trading in the evening session.
  • Gold futures also witnessed profit-taking by the traders on the domestic bourse.
  • The yellow precious metal for February contract fell Rs 520, or 0.36 per cent, to Rs 1,42,601 per 10 grams in 14,194 lots.
  • “Gold and silver witnessed sharp volatility on Friday.
  • Weaker than expected US weekly jobless claims strengthened the US dollar, while President Donald Trump’s softer stance on Iran reduced safe-haven demand for precious metals,” Rahul Kalantri, Vice-President of Commodities, Mehta Equities Ltd, said.
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Sources

  1. Silver, gold retreat from record highs on strong US dollar, weak...

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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