Silver, Gold Prices Today: Precious Metals Record Dip on MCX

Silver, Gold Prices Today: On Friday, both gold and silver are trading on the lower side of the Multi Commodity Exchange (MCX). Gold futures, maturing on December 3, 2021, stand at Rs 47,836 per 10 grams with a dip of 0.22 per cent or Rs 104.

Silver, Gold Prices Today

Gold Prices Today: Meanwhile, recording a downfall of 0.41 per cent or Rs 263, silver futures, maturing on December 3, 2021, are retailing at Rs 64,695 per kg on the MCX today. Yesterday, gold was trading on the lower side of the MCX and silver recorded a dip on the MCX.

The rate of gold stood at Rs 48,013 per 10 grams with a jump of 0.11 per cent or Rs 51. On the other hand, silver was trading at Rs 64,953 per kg with a downfall of 0.38 per cent or Rs 247. The prices of gold and silver stood at Rs 47,961 and Rs 64,931, respectively, when the market closed on Thursday.

Gold prices today were set to mark a third straight weekly gain as the dollar tumbled in the international market, reported news agency Reuters. Gold prices are set for a third weekly gain as a retreat in U.S. bond yields and a weak dollar lifted bullion’s safe-haven appeal, as per the reports.

Silver, Gold Prices Today

Meanwhile, spot gold was firm at $1,797.82 per ounce and rose 0.3 per cent this week, while U.S. gold futures fell 0.2 per cent to $1,799.40 per ounce. The U.S. dollar is set for a third weekly decline, which makes gold more attractive to buyers holding other currencies.

Acknowledging higher inflation in the market, European Central Bank President Christine Lagarde was quoted by Reuters as saying that the pressure of prices would prompt a hike in interest rates soon next year.

The investors and market investors are now eagerly waiting for the U.S. Federal Reserve policy meeting to be held on November 3, 2021. The data revealed that the growth of the U.S. economy was the slowest in more than a year in the third quarter and analysts have cut down their gold price forecasts for the rest of this year.

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Silver, Gold Prices Today: Precious Metals Record Dip on MCX via @marketinvestor
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