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The prices of gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX) on Thursday, October 21, 2021. Today, gold futures maturing on December 3, 2021, stand at Rs 47,529 per 10 grams with a hike of 0.13 per cent or Rs 61.

Witnessing a jump of 0.29 per cent or Rs 193, silver futures, maturing on December 3, 2021, are trading at Rs 65,781 per kg.

Yesterday, gold stood at Rs 47,355 per 10 grams with a hike of 0.23 per cent. Meanwhile, silver was at Rs 64,420 per kg with a jump of 0.09 per cent. The prices of gold and silver stood at Rs 47,499 and Rs 65,607 respectively, when the market closed on Wednesday.

Gold and silver prices in international market

Today, gold prices went up on the global front, extending gains into a third session. The weaker dollar made the metal cheaper for buyers holding other currencies.

Meanwhile, spot gold inched up 0.2 per cent to $1,784.96 per ounce and U.S. gold futures also changed a little at $1,784.60. This week, bullion prices have traded between $1,759 and $1,788, as per the reports.

As per Reuters, two U.S. Federal Reserve officials were quoted by Reuters as saying that the Central Bank should be slowing down its stimulus measures as it was too early for hikes in interest rates.

Gold is often regarded as an inflation hedge even though reduced stimulus and interest rate hikes push government bond yields up.

In another significant development, spot silver gained 0.3 per cent to $24.33 per ounce and platinum rose 0.1 per cent to $1,051.12 in the international market.

Gold and Silver prices in Indian cities:

CITYGOLD (per 10 grams,22 carats)SILVER (per kg)
NEW DELHIRs 46,610Rs 65,900
CHENNAIRs 44,750Rs 68,900
MUMBAIRs 46,480Rs 65,900
KOLKATARs 46,900Rs 65,900

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