(Juhi Aishwary, Journalist): The domestic futures market has seen a significant decline in silver prices on Friday morning. At the same time, the futures price of gold has also declined. On Friday morning, the futures price of 4 December 2020 on MCX exchange was seen trending downwards. It was seen trending at Rs 49,075 per 10 grams, falling by 0.23 percent or Rs 114 on Friday morning. Globally, gold futures have seen a fall on Friday morning.
Talking about the domestic futures prices of silver, the silver futures price of MCX was down by 0.59 percent or Rs 309 to Rs 52,301 per kg on September 4, 2020, on MCX at 10.21 am on Friday. Internationally, both silver futures and spot prices have fallen on Friday morning.
What is the future price?
The yellow metal, ie gold, is traded in two ways, One in the futures market and the other in the spot market. Futures are traded on commodity exchanges. In futures trading, the commodity is bought and sold digitally. In the futures market, futures prices are traded based on the old and new prices of the commodity. There are deals in this market up to a fixed date. The futures market has a direct impact on the spot market. There is no major difference between the price of the commodity in the spot market and the futures market.
Gold price globally
Globally, on Friday morning, gold futures prices showed a downward trend and spot prices trended higher, on Friday morning, the global futures price of gold on Comex was down by 0.10 percent or $ 1.80 to trade at $ 1,798.50 an ounce. At the same time, the global spot price of gold was seen trending at $ 1,798.63 an ounce, rising 0.08 percent or $ 1.47 on Friday morning.
Globally, both silver futures and spot prices have trended downward on Friday morning. On Friday morning, the global futures price of silver was down by 0.68 percent or 0.13 to trade at $ 19.44 an ounce on Comex. At the same time, the global spot price of silver was down by 0.43 percent or $ 0.08, at $ 19.07 an ounce.
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