On November 30, gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX), for the second time in a row. Witnessing a hike of Rs 177 or 037 per cent, gold futures, maturing on December 3, 2021, are trading at Rs 47,570 per 10 grams on the MCX.
Meanwhile, recording a marginal hike of Rs 158 or 0.26 per cent, silver futures, maturing on December 3, 2021, stand at Rs 61,632 per kg.
Gold and silver prices in the international market:
As per Reuters, gold prices edged higher on Tuesday, drawing some support from a subdued dollar as investors assessed the severity of the Omicron coronavirus variant’s impact on the global economy.
Meanwhile, spot gold rose 0.2 per cent to $1,787.70 per ounce by 0415 GMT. U.S. gold futures increased 0.3 per cent to $1,790.40. The dollar index edged 0.1 per cent lower, reducing the metal’s cost to buyers holding other currencies.
Reduced stimulus and interest rate hikes to curb inflation tend to push government bond yields up, raising the opportunity cost of gold, which pays no interest. Spot silver was steady at $22.90 per ounce. Platinum advanced 0.5 per cent to $967.84 and palladium gained 0.3 per cent to $1,800.26.
Gold and Silver prices in major Indian cities:
|CITY||GOLD (per 10 grams, 22 carats)||SILVER (per kg)|
|NEW DELHI||Rs 47,090||Rs 61,600|
|MUMBAI||Rs 47,310||Rs 61,600|
|KOLKATA||Rs 47,190||Rs 61,600|
|CHENNAI||Rs 45,150||Rs 66,500|