Gold and silver prices faced renewed pressure, influenced by concerns over US inflation, which have heightened expectations for additional interest rate increases this year. Despite a rally in precious metals during the majority of the previous session, gold ultimately reversed its gains, experiencing a notable decline toward the session’s conclusion on Nov. 11. In contrast, silver reduced most of its gains but still managed to close approximately 1% higher than the closing on Nov. 10.
MCX Gold futures for December delivery settled at Rs 1,39,716 per 10 grams. In contrast, silver futures for the same delivery ended at Rs 1,84,525 per kg, reflecting an increase of approximately 1.1%. Both yellow and white metals followed the trends in international gold and silver prices, experiencing declines as the dollar continued to strengthen, compounded by concerns over potential rate hikes. Today, on Nov. 12, gold and silver prices on COMEX are experiencing a decline, continuing the trend of losses.
COMEX gold price decreased by 0.3% to $3,988 per ounce, whereas COMEX silver fell by 1.02% to $51.47 per ounce. In India, the price of 24K gold was recorded at Rs 1,40,280 per 10 grams, whereas silver was priced at Rs 1,85,340 per kilogram. 22K gold was priced at Rs 1,28,590 per 10 gm, whereas 925 sterling silver was valued at Rs 1,71,440 per kg, according to source.
