Gold, Silver Price Today: Yellow metal slips below $4,050; MCX precious metals trade higher – Check 24K, 22K rates in Delhi, Mumbai, Chennai and other cities – Markets

Gold, Silver Price Today: Precious metal prices edged lower in international markets on Wednesday morning, while silver extended gains, as investors remained focused on inflation trends, movements in the US dollar and the outlook for interest rates.

Gold prices in international market

As of 9:00 am, spot gold (XAUUSD) was trading 0.2 per cent, or USD 10.68 lower, at USD 4,044.39 an ounce. In contrast, spot silver (XAGUSD) gained 1.55 per cent to trade at USD 53.34 an ounce.

The decline follows a volatile trading session in global bullion markets. On Tuesday, spot gold fell USD 27.59, or nearly 1 per cent, to USD 4,113.55 per ounce, while silver slipped more than 1 per cent to USD 52.77 per ounce.

“Gold is holding near USD 4,100 per ounce, after rising 1 per cent in the previous session as falling oil prices eased inflation concerns ahead of US inflation data,” said Akshat Siddhant, Lead Quant Analyst at investment platform Mudrex.

MCX gold rebounds after sharp fall in previous session

Domestic bullion prices, however, traded marginally up on Wednesday despite weakness in global gold markets.

Gold futures on the Multi Commodity Exchange (MCX) were trading 0.65 per cent up at Rs 1,41,439 per 10 grams as of 9:40 am.

Last 10 Days Price of Gold

In the previous session, the December gold contract witnessed sharp volatility. The contract opened at Rs 1,41,870, touched an intraday high of Rs 1,42,500 and a low of Rs 1,40,358 before settling lower.

The recovery in MCX gold comes a day after physical gold prices in the national capital declined.

Delhi gold falls Rs 500; silver remains steady

According to local traders, gold prices in Delhi dropped by Rs 500 to Rs 1,46,400 per 10 grams on Tuesday from Rs 1,46,900 per 10 grams in the previous session, PTI reported.

Silver prices, however, remained unchanged for the second consecutive session at Rs 1,92,500 per kilogram, inclusive of all taxes.

Traders attributed the decline in domestic gold prices to weakness in international bullion markets and strength in the US dollar.

“Gold prices retreated in the domestic market in line with weakness in international bullion rates, with a steady US dollar adding to the pressure,” traders told PTI.

They added that subdued buying interest during the Diwali period also weighed on the yellow metal, limiting support from festive demand.

Silver gains momentum on MCX

Silver outperformed gold in domestic trade on Wednesday.

As of 9:40 am, silver futures on MCX were trading 1.6 per cent higher at Rs 1,85,660 per kilogram, tracking the rebound seen in international silver prices.

The white metal has remained relatively resilient amid expectations of steady industrial demand and improving risk sentiment in commodity markets.

Gold rate today in Delhi, Mumbai, Chennai and other cities

What analysts are watching

Market participants are closely monitoring developments in crude oil prices and the upcoming US inflation data, both of which are expected to influence the Federal Reserve’s policy trajectory.

Analysts noted that softer crude oil prices have helped ease inflation concerns, but fluctuations in the dollar and global bullion markets continue to dictate the near-term direction of precious metals.