According to the Indian Bullion Jewelers Association, gold prices opened today at INR 60,602 per ten grams, marking a slight decrease from the previous trading day’s closing rate of INR 60,698. This means there has been a drop of INR 96 for every ten grams. Remarkably, gold is now trading almost INR 983 below its all-time high, which was recorded on May 11, 2023, when the price reached INR 61,585 per ten grams.
As for silver, it commenced trading today at INR 71,530 per kilogram. On the last trading day, the closing rate stood at INR 72,094 per kilogram, implying a decrease of INR 564 per kilogram today. Silver’s current trading rate is significantly lower, by about INR 4,934, than its all-time high of INR 76,464 recorded on May 4, 2023.
On the Multi Commodity Exchange (MCX), as of noon, gold futures for December 5, 2023, are trading at an upward trend of INR 78.00, with prices standing at INR 60,615.00. Simultaneously, silver futures for the same date show an increase of INR 182.00, trading at INR 71,968.00.
Internationally, gold is also seeing bullish activity. In the U.S. market, gold is trading up by 2.92 dollars, at 1,975.60 dollars per ounce. Meanwhile, silver is trading at 22.96 dollars per ounce, reflecting a modest increase of 0.01 dollar.
The ongoing fluctuations in gold and silver prices reflect a myriad of factors influencing the global and domestic markets. Investors and consumers alike should keep a keen eye on these trends for insightful decision-making.
