Gold and silver prices witnessed mixed movements in the Indian market as international market trends continued to influence domestic bullion rates. While gold and silver futures recorded gains on the Multi Commodity Exchange (MCX), retail gold prices moved lower.
Gold Prices in India
The retail price of 24-carat gold stood at ₹14,283 per gram, bringing the price of 10 grams to ₹1,42,830. This represented a decline of ₹193 per gram compared with the previous session.
Meanwhile, 22-carat gold was priced at ₹13,094 per gram, with 10 grams costing ₹1,30,940.
Silver Prices Today
Silver retail prices remained unchanged during the session. The metal was available at ₹2,219 per 10 grams, while the price of one kilogram stood at ₹2,21,900.
MCX Gold and Silver Futures Move Higher
Despite the decline in retail gold rates, futures contracts on MCX traded higher.
- December gold futures increased by 0.73% to ₹1,41,550 per 10 grams.
- December silver futures advanced 2.66% to ₹1,87,439 per kilogram.
International markets also supported futures trading, with gold and silver contracts recording gains.
What Could Influence Precious Metal Prices?
Investors are keeping an eye on upcoming US economic developments and Federal Reserve decisions, which could influence global gold and silver prices.
Currency movements, interest-rate expectations and international demand will remain important factors for the precious metals market.
