On December 16, 2021, gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX). Witnessing a hike of Rs 285 or 0.59 per cent, gold futures, maturing on February 4, 2022, are trading at Rs 48,296 per 10 grams on the MCX.
Meanwhile, recording a hike of Rs 1182 or 1.96 per cent, silver futures, maturing on March 4, 2022, stand at Rs 60,352 per kg.
Gold and silver prices in the international market:
As per Reuters, gold prices gained on Thursday, as the dollar weakened after the U.S. Federal Reserve said it would end pandemic-era bond-buying in March, with investors now awaiting other major central bank meetings.
Meanwhile, spot gold climbed 0.3 per cent to $1,781.60 per ounce by 0437 GMT, while U.S. gold futures rose 1 per cent to $1,782 per ounce.
“Any dollar weakness should see a corresponding rise in gold. The expectation is for a winding back of fiscal and monetary stimulus. If this view is unchanged, then it would be reasonable for gold prices to remain below $1,800,” said Michael Langford, director at corporate advisory AirGuide.
The dollar index moved lower from a three-week high hit in the previous session. On the other hand, silver rose 0.4 per cent to $22.13 per ounce, platinum climbed 0.1 per cent to $919.08
Gold and Silver prices in major Indian cities:
|CITY||GOLD (per 10 grams, 22 carats)||SILVER (per kg)|
|NEW DELHI||Rs 47,140||Rs 61,400|
|MUMBAI||Rs 46,900||Rs 61,400|
|KOLKATA||Rs 48,090||Rs 61,400|
|CHENNAI||Rs 45,450||Rs 65,100|