On December 6, while gold was trading on the lower side of the Multi Commodity Exchange (MCX), silver recorded a marginal hike. Witnessing a downfall of Rs 27 or 0.6 per cent, gold futures maturing on February 4, 2022, are trading at Rs 47,953.
Meanwhile, silver futures maturing on March 4, 2022, are retailing at Rs 61,606, recording a hike of Rs 68 or 0.11 per cent on the MCX.
Gold and silver prices on international market
Gold prices were flat on Monday, as the metal was caught between subdued U.S. bond yields and the prospect of the Federal Reserve tightening policy at a faster pace which dimmed its appeal.
Spot gold was little changed at $1,782.95 per ounce by 0419 GMT. U.S. gold futures were flat at $1,783.60.
U.S. 10-year Treasury yields hovered near a more than two-month low hit on Friday. Thirty-year Treasury yields were also close to their lowest since the start of this year. Weaker yields decrease gold’s opportunity cost.
Bullion rose 1% on Friday after data showed U.S. employment growth slowed considerably in November.
But the data did little to alter expectations of the Fed tapering its stimulus measures at a faster pace, as policymakers are likely to respond to signs of a tightening labour market with the unemployment rate plunging to a 21-month low.
Spot silver fell 0.1 per cent to $22.48 an ounce. Platinum rose 0.4 per cent to $935.74, while palladium declined 0.1 per cent to $1,807.83.
Gold and Silver prices in Indian cities
|CITY||GOLD (per 10 grams,22 carats)||SILVER (per kg)|
|NEW DELHI||Rs 46,920||Rs 61,700|
|CHENNAI||Rs 45,080||Rs 65,600|
|MUMBAI||Rs 46,520||Rs 61,700|
|KOLKATA||Rs 46,870||Rs 61,700|