Gold and Silver Prices rise on MCX, November 19, 2024

New Delhi (The Uttam Hindu): Gold and silver prices saw a significant rise in today’s trading session on the Multi Commodity Exchange (MCX), as both metals registered notable hikes amid global and domestic market factors. As of November 19, 2024, gold futures for December 5, 2024, delivery were priced at Rs 75,450 per 10 grams, reflecting a jump of Rs 403 or 0.54% from the previous close of Rs 75,047. Similarly, silver futures for the same delivery date rose by Rs 447, or 0.49%, trading at Rs 90,960 per kg, compared to the previous close of Rs 90,513.

Gold and Silver Prices in Major Indian Cities

New Delhi: Gold (22 carat) - Rs 7,080 per gram, Silver - Rs 91,500 per kg

Mumbai: Gold (22 carat) - Rs 7,065 per gram, Silver - Rs 91,500 per kg

Kolkata: Gold (22 carat) - Rs 7,065 per gram, Silver - Rs 91,500 per kg

Chennai: Gold (22 carat) - Rs 7,065 per gram, Silver - Rs 1,01,000 per kg

Global Trends Impacting Prices

Globally, gold prices climbed to a one-week high, supported by a softer U.S. dollar and market anticipation of upcoming comments from Federal Reserve officials on U.S. interest rate policy. Spot gold rose by 0.4%, reaching $2,623.54 per ounce, while U.S. gold futures were up 0.5% at $2,627.60 per ounce. In the silver market, spot silver prices also saw an uptick, rising 0.5% to $31.32 per ounce.

The movement of gold and silver prices in India is closely tied to factors such as the global demand for precious metals, the value of the rupee against the dollar, and international market trends. As of now, both gold and silver continue to hold significant appeal among investors, with market watchers closely monitoring economic indicators and global financial developments for further price fluctuations.