Today, both gold and silver are trading on the lower side of the Multi Commodity Exchange(MCX). Recording a dip of Rs 33 or 0.07, gold futures, maturing on December 3, 2021, are retailing at Rs 48,015 per 10 grams on the MCX.

Meanwhile, the rate of silver futures, maturing on December 3, 2021, stands at Rs 64,877 per kg, recording a downfall of Rs 119 or 0.18 per cent on the MCX.

Yesterday, gold futures stood at Rs 48,000 per 10 grams on the MCX and silver stood at Rs 64,602 per kg, recording a jump of Rs 364 or 0.57 per cent on the MCX.

Gold and Silver prices in international market:

As per Reuters, gold prices edged lower on Tuesday, but hovered near a two-month peak on a softer dollar and U.S. bond yields, as investors awaited key U.S. inflation data to gauge the Federal Reserve’s next move on rate hikes.

Spot gold fell 0.1 per cent to $1,822.86 per ounce by 0426 GMT, about $4 shy off a two-month peak scaled earlier in the session. U.S. gold futures dropped 0.2 per cent to $1,824.80.

A weaker dollar reduces bullion’s cost for buyers holding other currencies, while lower yields decrease non-interest bearing bullion’s opportunity cost. The report suggested that gold had benefited from near-zero interest rates introduced during the pandemic as they reduced bullion’s opportunity cost.

Meanwhile, spot silver fell 0.3 per cent to $24.37 per ounce.

Gold and Silver prices in Indian cities: