gold prices India remained stable with a positive trend on Wednesday. On MCX India, gold futures were trading at Rs 52,999 at 12:15 pm, registering a positive movement of 0.03 per cent. Silver futures, however, were trading 0.12 per cent lower at Rs 62,759. In the retail market too, gold held steady at Rs 48,550 for 22 carat and Rs 52,970 for 24 carat. One kg of silver was being sold at Rs 61,400.
Gold remained the costliest in Chennai, with 22 carat gold trading at Rs 49,360 and 24 carat gold at Rs 53,850 per 10 grams. In Delhi, 22 and 24 carat gold is being sold at Rs 48,700 and Rs 53,130 respectively. The yellow metal prices remained flat in Mumbai, Hyderabad and Kolkata. 10 grams of 22 carat gold closed at Rs 48,550, while superior 24 carat was trading at Rs 52,970. Gold prices in Bengaluru held steady at Rs 48,600 for 22 carat and Rs 53,020 for 24 carat.
Gold and silver rates vary from day to day due to factors such as state taxes, excise duty, making charges, as well as additional GST on the finished product.
Meanwhile, in the international market, gold prices saw little change on November 30 as it was flat at $1,750.00 an ounce as of 0019 GMT. US gold futures fell 0.1% to $1,746.80. At the same time, silver fell 0.2 percent to close at $ 21.23. It appears that much of investors’ attention on prices is focused on a speech by Federal Reserve Chairman Jerome Powell for insight into the US central bank’s monetary policy path.
The US Federal Reserve is expected to announce another hike in interest rates, with a focus on reducing inflation. Fed Reserve officials have indicated that interest rates may remain elevated through 2024. The metal prices are expected to remain volatile in the coming weeks.
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