Today, while gold is trading on the lower side of the Multi Commodity Exchange (MCX), silver has recorded a marginal hike. Witnessing a downfall of Rs 63 or 0.13 per cent, gold futures, maturing on December 3, 2021, are trading at Rs 46,851 per 10 grams on the MCX.
Meanwhile, recording a hike of Rs 19 or 0.03 per cent, silver futures, maturing on December 3, 2021, stand at Rs 61,054 per kg.
On Wednesday, both precious metals recorded a downfall on the MCX. While gold stood at Rs 46,674 per 10 grams, silver witnessed a dip of 0.40 per cent or Rs 266 and was retailing at Rs 60,726 per kg.
Gold and Silver prices in international market
As per Reuters, gold prices remained flat on Thursday and the dollar held firm. Ahead of a U.S. payrolls report that is expected to provide hints on the Federal Reserve’s tapering timeline, investors moved to the sidelines.
Meanwhile, spot gold remained flat at $1,761.36 per ounce and U.S. gold futures changed a little to $1,763.10. According to reports, U.S. nonfarm payrolls data, due on Friday, may show signs of improvement in the labour market.
On Wednesday, the data revealed that U.S. private payrolls saw a hike in September as there has been a subsequent decline in coronavirus cases. The downward trend of the Covid-19 infections has boosted hiring at restaurants and other high-contact businesses.
Bond yields were lifted due to reduced stimulus and higher interest rates and it led to an increase in opportunity costs of holding bullion that gives no interest. There was no change in prices for spot gold and it remained at $22.59 per ounce and platinum fell 0.2 per cent to $982.01.
Gold and Silver prices in Indian cities:
|CITY||GOLD (per 10 grams,22 carats)||SILVER (per kg)|
|NEW DELHI||Rs 45,750||Rs 61,000|
|CHENNAI||Rs 43,910||Rs 64,600|
|MUMBAI||Rs 45,680||Rs 61,000|
|KOLKATA||Rs 46,000||Rs 61,000|