Tag: SilverPricesToday

Gold and silver prices continued their steady climb on Wednesday, offering yet another sign that investors are leaning heavily toward safe-haven assets amid global uncertainty. On the Multi Commodity Exchange (MCX), gold moved past ₹1.30 lakh per 10 grams, while silver surged to nearly ₹1.84 lakh per kilogram, marking a strong mid-week performance for the bullion market.

Gold opened with positive momentum and inched higher through the session. Traders say the metal is benefiting from growing expectations of an interest rate cut by the US Federal Reserve, an event that usually boosts gold’s appeal. At the same time, the Indian rupee’s weakness has added an extra push, making imports more expensive and naturally lifting local prices.

Silver’s rise has been even more striking. The white metal, supported by both investment demand and industrial use, rose around 1.5% during Wednesday’s session. Analysts note that global supply pressures and strong demand from sectors like electronics and renewable energy are helping silver maintain its sharp upward trajectory.

Market watchers say gold now finds support around ₹1.28 lakh, while immediate resistance lies close to ₹1.31 lakh. If prices hold above current levels, the metal could test new highs later this week. Silver, too, is expected to stay firm as long as it trades above the ₹1.84 lakh zone, with potential to move towards ₹1.86–₹1.88 lakh.

For everyday buyers, the latest jump may come as a mixed signal—good news for investors holding gold or silver, but slightly discouraging for those planning jewellery purchases. Still, the broader market mood suggests that bullion will remain attractive as long as global uncertainties linger and the rupee stays under pressure.

As the week progresses, traders will be watching key global data and central bank cues closely. For now, both gold and silver continue to shine brighter in the mid-week market.

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Gold and silver prices in India moved up slightly on December 2, offering a steady start to the month for bullion buyers. While gold saw only a marginal rise, silver recorded a comparatively stronger jump.

The price of 24-carat gold increased by ₹10, bringing the rate for 10 grams to ₹1,30,490 across major markets. The movement was similar in 22-carat gold, which also rose by ₹10 to ₹1,19,610 for 10 grams. In Chennai, gold remained costlier than other metros, with 24-carat gold priced at ₹1,31,680 and 22-carat gold at ₹1,20,710.

Silver outperformed gold on the day. One kilogram of silver was priced at ₹1,88,100 in Delhi, Mumbai and Kolkata, a rise of ₹100 from the previous session. The metal has been gaining steady traction as both industrial demand and investor interest remain firm.

Across metros, gold prices stayed largely aligned: Bengaluru, Hyderabad, Mumbai and Kolkata recorded the same 22K rate of ₹1,19,610, while 24K held at ₹1,30,490. Slight variations in Delhi and Chennai reflected local demand and logistics.

The mild uptick in gold and the stronger movement in silver come at a time when global markets are cautious, and investors are gradually shifting towards safer assets. With the wedding season still active and year-end buying picking up, traders expect bullion demand to remain stable.

As gold holds near the ₹1.30-lakh mark and silver continues its upward swing, market watchers will look to global cues and domestic buying trends to gauge the next direction in precious metal prices.

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Gold and silver futures on the Multi Commodity Exchange of India (MCX) climbed on Friday, fueled by expectations of a U.S. Federal Reserve rate cut and strong domestic demand ahead of the wedding season.

MCX December gold contracts rose 0.39% to ₹1,25,999 per 10 grams, while silver December contracts gained 0.85% to ₹1,63,849 per kilogram in early trading.

Analysts said the rally was driven by a softer U.S. dollar, healthy spot-market demand, and a high probability of a Fed rate cut in December. Some profit-booking was also seen, reflecting caution amid global market volatility and currency fluctuations.

With both global cues and domestic buying supporting the market, bullion, particularly gold, remains in focus for investors.

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Gold prices eased on Thursday as traders booked profits following a steady rise over the past few sessions. On the Multi Commodity Exchange (MCX), December gold futures slipped around 0.36% to nearly ₹1,25,480 per 10 grams in early trade. Silver prices also softened, with futures hovering close to ₹1,60,950 per kg. The dip is largely seen as a temporary correction rather than a shift in trend.

The focus of global markets now shifts to the U.S. Federal Reserve, which is set to review its interest-rate policy next week. Investors are anticipating signals on whether the Fed will begin cutting rates in the coming months. Recent U.S. economic data, including slower retail sales and cooling inflation, has strengthened expectations of monetary easing, an outcome generally positive for gold.

A weaker U.S. dollar this week has also lent support to bullion, as a softer dollar makes gold more attractive for international buyers. However, analysts caution that the metal may continue to face short-term volatility depending on how the dollar and U.S. Treasury yields move ahead of the policy announcement.

In the domestic market, experts believe gold will trade within a narrow band. Key support levels lie around ₹1,24,350–₹1,23,580 per 10 grams, while resistance is expected near ₹1,25,850–₹1,26,500. Globally, support is estimated around $4,100 per ounce.

Traders see Thursday’s decline as a healthy pullback after recent gains, with the broader outlook remaining cautious but stable. The Fed’s commentary will be the next major trigger that could shape gold’s direction in the short term.

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Gold and silver opened slightly higher on Wednesday, reflecting steady demand and positive global cues. The price of 24-carat gold moved up by ₹10, bringing it to ₹1,27,050 per 10 grams. Silver also saw a mild rise, gaining ₹100 to trade at ₹1,67,100 per kilogram.

The increase wasn’t dramatic, but it shows that buyers are slowly returning to precious metals as expectations grow that the US Federal Reserve may cut interest rates in December. Lower interest rates typically make gold more attractive since it becomes easier for investors to shift money into safe-haven assets.

In the 22-carat category, gold was priced at ₹1,16,460 per 10 grams. Rates varied slightly across major cities: Mumbai and Kolkata saw 24-carat gold at ₹1,27,050, while Chennai quoted a slightly higher price of ₹1,27,870.

Overall, the market remains cautious but optimistic, with traders watching global economic signals closely. Precious metals could see more movement in the coming weeks depending on how rate-cut expectations evolve.

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Gold and silver prices in India rose sharply on Tuesday as global markets increasingly bet on a possible US Federal Reserve rate cut in December. On the Multi Commodity Exchange (MCX), gold futures gained about ₹1,070 to reach ₹1,24,924 per 10 grams, marking a strong upward move. Silver futures also surged, rising nearly ₹1,900 to about ₹1,56,380 per kilogram.

In the international market, spot gold slipped slightly after a strong rally the previous day, but overall sentiment remains positive. A firm U.S. dollar, currently near six-month highs, acted as a mild drag, yet investors continued to show preference for precious metals on expectations of lower interest rates ahead.

Investor confidence in a December rate cut has strengthened significantly. Market indicators now reflect an estimated 81% probability of the Federal Reserve trimming rates, up from about 40% just a week earlier. Lower interest rates typically boost demand for gold, as they reduce the opportunity cost of holding non-yielding assets.

However, some US Federal Reserve officials remain cautious. A few policymakers have suggested that it may be premature to ease monetary policy, warning that cutting rates too soon could pose risks to economic stability.

In India’s physical bullion market, prices also moved higher across major cities. In Delhi, 22-carat gold is trading around ₹93,176 per 8 grams, while 24-carat gold is priced at roughly ₹1,00,224 per 8 grams. Mumbai, Chennai and Hyderabad reported similar firming in rates.

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Gold and silver prices in India softened at the start of the week, reflecting a shift in market sentiment as investors grew doubtful about the chances of a policy rate cut in the upcoming RBI meeting. After several weeks of steady gains, bullion prices showed a mild pullback, signalling a more cautious mood among traders.

In the domestic market, 24-carat gold was quoted at around ₹1,23,146 per 10 grams for 999 purity in the evening trade on November 21. The metal had touched its recent peak earlier in the month, climbing to ₹1,26,554 per 10 grams on November 13, before gradually cooling. The latest decline suggests that buyers are now waiting for clearer cues from the central bank on whether monetary conditions will ease next month. A rate cut typically boosts gold demand by lowering opportunity costs, but the fading likelihood of such a move has slowed retail and wholesale interest.

Globally, the sentiment was also muted. Gold prices in the international spot market hovered close to US$4,056 per ounce, slipping slightly from the previous session. This global softness added to the downward pressure seen in domestic benchmarks.

Silver followed a similar direction but showed a sharper drop. Widely used in both industry and jewellery, silver was priced at ₹1,51,129 per kilogram for 999 purity in the evening session on November 21. This marked a significant fall from the afternoon price, where it traded near ₹1,55,840 per kilogram, indicating nearly a 2% decline within hours. In the global market, silver was trading just above US$50 per ounce, staying relatively subdued.

The combined movement of gold and silver highlights how sensitive bullion markets have become to policy expectations. With inflation still being watched closely and global monetary trends shifting, traders appear unwilling to take aggressive positions until the RBI clarifies its stance.

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Gold prices in India fell on Thursday, with MCX December futures trading around ₹1,22,373 per 10 grams, down from the previous close of ₹1,22,727. Silver also declined, slipping over 1% to ₹1,52,433 per kg in early trade.

Globally, spot gold eased 0.1% to $4,072.87 per ounce, while silver dropped about 0.5% to $50.35 per ounce. Analysts attributed the fall to stronger-than-expected U.S. non-farm payroll data, which showed 119,000 new jobs, and a rise in the unemployment rate to 4.4%.

The data suggested that the U.S. labor market remains resilient, reducing expectations of an imminent Federal Reserve rate cut. A stronger U.S. dollar also made bullion more expensive for holders of other currencies, adding further pressure on prices.

Market analysts expect gold to find support near ₹1,21,800–₹1,22,000 per 10 grams and resistance around ₹1,23,050–₹1,23,700, while silver may hold support near ₹1,52,350–₹1,53,050 per kg with resistance at ₹1,55,140–₹1,55,980.

Investors are closely watching global economic cues as bullion prices react to changing rate expectations and currency movements.

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Gold and silver prices in India rose slightly on Thursday. The price of 24-carat gold increased by ₹10 to ₹1,24,870 per 10 grams, while 22-carat gold rose to ₹1,14,460 per 10 grams.

Silver gained ₹100, trading at ₹1,68,100 per kilogram in Delhi, Kolkata, and Mumbai, with Chennai slightly higher at ₹1,76,100.

Globally, spot gold was up around 0.3% at US $4,092.98 per ounce and silver rose 0.4% to US $51.58 per ounce. Analysts said the gains are driven by anticipation of the upcoming US jobs report, which may influence the Federal Reserve’s interest-rate policy.

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