Gold, Silver Prices Edge Up Marginally — Check Rates In Delhi, Mumbai And Other Cities
Earlier the gold prices slid sharply following a massive rally during and before the festive season.
Gold prices in India on Monday gained marginally to trade higher at Rs 1,23,570, after the festive season. Earlier the gold prices slid sharply following a massive rally during and before the festive season.
Meanwhile Silver price was also trading higher at Rs 1,47,520 per kilogram on Oct 27.
The previous drop in prices was led by a confluence of factors including positive trade talks between China and the US, a stronger dollar, overstretched technicals, and uncertainty on investor positioning due to the government shutdown were factors cited for the price drop on the gloabl scale.
Gold prices had scaled a new peak for the fifth consecutive session in the international market two weeks ago. The heightened US-China trade frictions and bets of a Fed rate cut through the end of the year have supported demand of the yellow metal, as reported by Bloomberg.
Gold Price: Delhi, Mumbai, Chennai Prices
In New Delhi, the price stood at Rs 1,23130, per 10 gm, and in Mumbai, it stood at Rs 1,23,340 on Monday
In Bengaluru, the rate stood at Rs 1,23,440, while in Kolkata, it was Rs 1,23,180 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 1,23,700 per 10 gm.
The Dec. 5 futures stood at Rs 1,23,255 according to the Multi-Commodity Exchange. The spot prices of the yellow metal rose to $4,075 on Monday, according to the World Gold Council.
Silver: Spot And Future Price
The precious metal's price was trading higher at Rs 1,47,520 per kilogram on Oct 27, according to the India Bullion Association.
Dec. 5 futures for silver were trading lower at Rs 1,47,150, according to the Multi-Commodity Exchange.
