On December 8, 2021, gold prices have recorded a hike, while silver is trading on the lower side of the Multi Commodity Exchange (MCX). Witnessing a hike of Rs 52 or 0.11 per cent, gold futures maturing on February 4, 2022, are retailing at Rs 48,150 per 10 grams.
Meanwhile, silver futures maturing on March 4, 2022, are trading at Rs 61,754 per kg on the MCX, recording a dip of Rs 96 or 0.16 per cent.
Gold and Silver prices on international market:
As per Reuters, gold prices rose on Wednesday as the U.S. Treasury yields and the dollar eased, with investor focus shifting to key inflation data due this week that could influence the Federal Reserve’s decision to taper its stimulus at a faster pace.
Meanwhile, spot gold was up 0.2 per cent at $1,788.33 per ounce, as of 0352 GMT. U.S. gold futures were up 0.3 per cent at $1,789.50.
Boosting bullion’s appeal, benchmark 10-year and 30-year U.S. Treasury yields retreated from a one-week high hit on Tuesday while the dollar index weakened 0.2 per cent.
Reduced stimulus and interest rate hikes tend to push government bond yields higher, raising the opportunity cost of holding gold, which bears no interest.
Spot silver rose 0.1 per cent to $22.49 an ounce. Platinum gained 1.1 per cent to $961.55 and palladium added 0.1 per cent to $1,855.18.
Gold and Silver prices in major Indian cities:
|CITY||GOLD (per 10 grams, 22 carats)||SILVER (per kg)|
|NEW DELHI||Rs 46,910||Rs 61,900|
|MUMBAI||Rs 46,820||Rs 61,900|
|KOLKATA||Rs 47,100||Rs 61,900|
|CHENNAI||Rs 45,220||Rs 65,600|