After trading higher for two days on the Multi Commodity Exchange (MCX), both gold and silver were down today. Showing a marginal decline of Rs 24 or 0.05%, 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, sell for Rs 59,600 per kg, down to Rs 107 or 0.18%.
Yesterday, gold futures, maturing on October 5, 2021, were selling at Rs 45,650 per 10 grams with a slight jump of 0.14% or Rs 65. Silver stood at 58,500 Rs per kg with a marginal increase of 0.09% or 53 Rs.
Gold and silver prices on the international market
According to the report released by Reuters, gold prices eased on Friday after hitting a week-long high above the key $ 1,750 level in the previous session, as the dollar rebounded and returned the expensive metal for holders of other currencies.
Spot gold fell 0.1% to $ 1,754.64 an ounce at 1:39 a.m. GMT, after rising nearly 1.8% on Thursday as the dollar index fell.
Meanwhile, the dollar recouped most of those losses on Friday and began the final quarter of 2021 near its highest level of the year. US gold futures fell 0.1% to $ 1,755.90.
The report also states that gold has traditionally been viewed as a hedge against inflation, although reduced central bank stimulus measures and interest rate hikes tend to push up bond yields. State, which in turn translates into a higher opportunity cost for gold that earns no interest.
Silver fell 0.6% to $ 22.06 an ounce, the Reuters metals report revealed.
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||43 920 rupees||63 700 rupees|
|MUMBAI||Rs 45,000||Rs 59,500|
|KOLKATA||Rs 46,050||Rs 59,500|
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