On November 29, gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX). Witnessing a hike of Rs 195 or 0.41 per cent, gold futures, maturing on December 3, 2021, are trading at Rs 47,700 per 10 grams on the MCX.

Meanwhile, recording a marginal hike of Rs 623 or 1.00 per cent, silver futures, maturing on December 3, 2021, stand at Rs 63,011 per kg.

Gold and silver prices in the international market:

As per Reuters, gold prices edged higher on Monday, as concerns over the impact of the possibly vaccine-resistant Omicron coronavirus variant supported the precious metal’s safe-haven appeal.

Meanwhile, spot gold rose 0.1 per cent to $1,793.72 per ounce by 0201 GMT. U.S. gold futures advanced 0.4 per cent to $1,793.2. The Omicron coronavirus variant spread around the world on Sunday, with new cases found in the Netherlands, Denmark and Australia even as more countries imposed travel restrictions to try to seal themselves off.

According to the report, physical gold demand picked up in major Asian hubs last week, helped by a retreat in prices, with dealers in India preparing for a likely spurt in buying as the wedding season gathers pace.

The spot silver rose 1.1 per cent to $23.38 per ounce. Platinum gained 2.3 per cent to $976.01, while palladium was up 2.7 per cent at $1,794.69.

Gold and Silver prices in major Indian cities: