gold and silver prices
According to All India Bullion Association, due to latest purchases by stockists and jewelery sellers, the price of gold in the national capital on Friday increased by Rs 2,200 to Rs 1,25,600 per 10 grams. This precious metal with 99.9 percent purity had closed at Rs 1,23,400 per 10 grams on Thursday.
In the local bullion market, gold of 99.5 per cent purity rose by Rs 2,200 to Rs 1,25,000 per 10 gram (all taxes included), while it had last closed at Rs 1,22,800 per 10 gram. Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities, said that there was a rally in gold on the last trading day of the week due to depreciation in the rupee.
On Friday, the rupee closed stable at 88.69 against the US dollar with an intra-day dip as a strong dollar in the weak domestic stock market and foreign markets balanced the support from low crude oil prices. However, on Friday, silver prices fell by Rs 2,000 to Rs 1,53,000 per kg (all taxes included). According to the association, on Thursday the price of silver closed at Rs 1,55,000 per kg.
Gandhi said the important meeting between US President Donald Trump and his Chinese counterpart Xi Jinping was positive, but failed to reduce concerns over long-term competition between the two largest economies. This uncertainty has again boosted the demand for gold as a safe investment. Globally, spot gold fell by 0.52 percent to $ 4,003.49 an ounce, while silver stood at $ 48.97 an ounce with a slight gain.
Gold prices on MCX
On one hand, there has been a rise in the prices of gold in the spot market. On the other hand, the prices of gold and silver have also increased in the futures market. The rate of gold expiring on 5th December 2025 is being seen today on MCX. Till the time of writing the news, December futures gold is trading at Rs 121818 with a rise of Rs 310.