Gold futures prices in India declined on Wednesday. On Wednesday morning, on June 5, 2020, gold futures on MCX Exchange were down by Rs 114 to trade at Rs 45,511 per 10 grams. Apart from this, the futures price of 5 August 2020 on MCX was down by Rs 97 to Rs 45,773 per 10 grams on Wednesday morning. The futures prices of silver in the domestic futures market have also seen a fall on Wednesday.
An economic package of Rs 20 lakh crore was announced by Prime Minister Narendra Modi on Tuesday to compensate the damage caused to the economy due to the epidemic. The announcement of this package has reduced the risk of the economy in the market slightly. This is the reason that Indian stock markets opened with a huge gain on Wednesday. As a result, domestic futures prices of gold are seen falling on Wednesday.
The global futures prices of gold are also declining on Wednesday morning. According to Bloomberg, on Wednesday morning, the global futures price of gold was down by 0.03 percent, or $ 0.50, at $ 1706.30 an ounce on Comex. At the same time, the global spot price of gold was trending up by 0.01 percent or $ 0.15 to $ 1,702.85 an ounce.
Talking about silver prices internationally, according to Bloomberg, on Wednesday morning, the global spot price of silver was up 0.28 percent or $ 0.04 to trade at $ 15.49 an ounce. In addition, the global futures price of silver was down by 0.15 percent or $ 0.02 on Comex on Wednesday morning at $ 15.69 an ounce.
