After trading higher for two days on the Multi Commodity Exchange (MCX), gold and silver recorded a dip today. Witnessing a marginal downfall of Rs 24 or 0.05 per cent, gold futures maturing on December 3, 2021, stand at Rs 46,507 per 10 grams on the MCX.
Meanwhile, silver futures, maturing on December 3, 2021, are retailing at Rs 59, 600 per kg, with a dip of Rs 107 or 0.18 per cent.
Yesterday, gold futures, maturing on October 5, 2021, were retailing at Rs 45,650 per 10 grams with a slight jump of 0.14 per cent or Rs 65. Silver stood at Rs 58,500 per kg with a marginal hike of 0.09 per cent or Rs 53.
Gold and Silver prices in International market
According to the report published by Reuters, gold prices eased on Friday after rallying to a one-week high above the key $1,750 level in the previous session, as the dollar rebounded and made the metal expensive for holders of other currencies.
The spot gold fell 0.1 per cent to $1,754.64 per ounce by 0139 GMT, after rising nearly 1.8 per cent on Thursday as the dollar index slipped.
Meanwhile, the dollar recouped most of those losses on Friday and began the final quarter of 2021 at close to its highest level of the year. U.S. gold futures dropped 0.1 per cent to $1,755.90.
The report also stated that gold is traditionally seen as an inflation hedge, although reduced central bank stimulus and interest rate hikes tend to push government bond yields up, in turn translating into a higher opportunity cost for gold that pays no interest.
Silver fell 0.6 per cent to $22.06 per ounce, revealed the metal report by Reuters.
Gold and Silver prices in Indian cities:
|CITY||GOLD (per 10 grams,22 carats)||SILVER (per kg)|
|NEW DELHI||Rs 45,700||Rs 59,500|
|CHENNAI||Rs 43,920||Rs 63,700|
|MUMBAI||Rs 45,000||Rs 59,500|
|KOLKATA||Rs 46,050||Rs 59,500|