18:47
(IST), Feb, 05
Silver, gold futures sinks 10% as dollar rally, Fed policy nerves
Silver and gold prices snapped a two-day rise and declined sharply by around 10 per cent in the futures trade on Thursday amid weak trends in the international markets and a strong US dollar. On the Multi Commodity Exchange (MCX), silver for March delivery dropped by Rs 26,850, or 10 per cent, to Rs 2,42,000 per kilogram. In the previous session, the white metal had settled at Rs 2,68,850 per kg. Similarly, gold for the April contract depreciated by Rs 2,310, or 1.51 per cent, to Rs 1,50,736 per 10 grams compared to Wednesday's closing level of Rs 1,53,046 per 10 grams.