Gold and silver are trading on the lower side of the Multi Commodity Exchange(MCX) on Tuesday. Recording a slight downfall of 0.11 per cent or Rs 52, gold futures, maturing on December 3, 2021, are retailing at Rs 48,147 per 10 grams. The rate of silver futures, maturing on December 3, 2021, stands at Rs 66,235 per kg with a downfall of 0.28 per cent or Rs 182.

Yesterday, both the metals recorded a jump on the MCX. The rate of gold stood at Rs 47,900 and silver was trading at Rs 65,770. The prices of gold and silver stood at Rs 48,200 and Rs 67,137 respectively when the market closed on October 25.

Gold and Silver prices in international market

On Tuesday, gold prices inched lower in the international market and the dollar price went upwards, reported news agency Reuters. The investors are looking forward to the upcoming key central bank meetings this week, stated the reports.

Meanwhile, spot gold edged lower 0.1 per cent to $1,805.96 per ounce and U.S. gold futures remained flat at $1,806.60.

The dollar recovered from a near one-month trough hit it suffered during the previous session and went up 0.1 per cent today. The metal rose nearly 1 per cent to a high of $1,809.66 on Monday.

While investors eye meetings from the Bank of Japan and the European Central Bank (ECB), the report suggests that neither of the banks is likely to announce a change in policy. In the next week, the U.S. Federal Reserve and the Bank of England may also meet, as per the reports.

On the other hand, spot silver edged 0.1 per cent down to $1,056.35 and spot silver also fell 0.1 per cent to $24.53 per ounce on the global front.

Gold and Silver prices in Indian cities: