Gold, silver price today, December 1, 2023: Precious metals witness hike on MCX
Gold Price Today December 1, 2023: Both gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX) on Friday. Check the latest city-wise prices here.
Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Friday, December 1, 2023.
Gold futures, maturing on February 5, 2024, stood at Rs 62,786 per 10 grams on the MCX, after recording a marginal hike of Rs 25 or 0.04 per cent. The previous close was recorded at Rs 62,640.
Meanwhile, silver futures, maturing on March 5, 2024, witnessed a hike of Rs 144 or 0.19 per cent and were retailing at Rs 77,777 per kg on the MCX against the previous close of Rs 77,515.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 57,850 | Rs 79,500 |
| MUMBAI | Rs 57,700 | Rs 79,500 |
| KOLKATA | Rs 57,700 | Rs 79,500 |
| CHENNAI | Rs 58,500 | Rs 82,500 |
The gold and silver prices in India depend on several factors, including the value of the rupee against the dollar. Global demand also plays a key role in determining the trends observed in the rate of precious metals.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices were set to mark a third straight weekly rise on Friday, after data showing cooling inflation cemented bets for a rate cut in the US, with traders looking forward to comments from Federal Reserve's Chair Powell later in the day, news agency Reuters reported.
According to the latest metal report, spot gold rose 0.2 per cent at $2,039.42 per ounce by 0427 GMT, after marking an over $60 rise in November- its second straight monthly rise.
US gold futures for February delivery rose 0.1 per cent to $2,059.00.
Spot silver rose 0.2 per cent to $25.29 per ounce, among other precious metals.