Gold and silver prices rose in both international and domestic markets during the latest trading session. On the Multi Commodity Exchange (MCX), gold prices gained around Rs 1,300, while silver advanced by more than Rs 2,700. Both precious metals also recorded gains in the international market.
According to available data from the Commodity Exchange (COMEX), gold prices had risen by approximately 1.02% to $4,199.50 per ounce at the time of writing. Silver prices gained around 1.59% to trade at $60.370 per ounce.
Prices of precious metals in international markets are influenced by several factors, including movements in the US dollar, market expectations regarding interest rates, inflation data and global economic conditions. During periods of geopolitical uncertainty, investors also often consider gold as a safe-haven investment option. However, price movements in either direction are not guaranteed.
Gold and silver prices also recorded gains in the Indian market. During trading, gold was seen trading around Rs 1.50 lakh per 10 grams, while silver traded at approximately Rs 2.24 lakh per kilogram.
In addition to international market movements, domestic prices of precious metals are influenced by the rupee-dollar exchange rate, import costs, local demand and taxes. As a result, gold and silver prices in India may differ from their international market prices.
On the MCX, gold futures for December delivery gained approximately Rs 1,300 at the time of writing, taking the price to Rs 1,50,856 per 10 grams. Silver prices advanced by around Rs 2,727 to reach Rs 2,23,960 per kilogram.
These figures represent prices recorded during trading and should not be treated as the final closing prices for the day, as futures prices fluctuate continuously.
According to the figures available in the report, 24-carat gold was priced at approximately Rs 1,50,990 per 10 grams, while 22-carat gold was quoted at around Rs 1,38,404 per 10 grams. The price of 18-carat gold was approximately Rs 1,13,243 per 10 grams. Silver was recorded at around Rs 2,24,180 per kilogram.
Prices may vary across markets and sources. When purchasing jewellery, the final cost is also affected by making charges, applicable taxes and other fees levied by the jeweller. Buyers should verify the prevailing rates with a local jeweller or a reliable rate source before making a purchase.
