Gold prices in India remained stable with a positive trend on Wednesday. On MCX India, gold futures traded at Rs 52,999 at 12:15 PM, recording a positive movement of 0.03 per cent. Silver futures, however, was in red by 0.12 per cent, trading at Rs 62,759. In the retail market too, gold prices remained stable at Rs 48,550 for 22-carat and Rs 52, 970 for the 24-carat variety. A kg of silver was being sold at Rs 61,400.
Gold remained the priciest in Chennai, trading at Rs 49,360 for 22 carats and Rs 53,850 for 24 carats of 10 grams of gold. In Delhi, gold is being sold at Rs 48,700 and Rs 53,130 for 22 and 24 carats respectively. The prices of the yellow metal remained at similar levels in Mumbai, Hyderabad and Kolkata. Ten grams of 22-carat gold retailed at Rs 48,550 whereas the superior 24-carat traded at Rs 52, 970. The prices of gold in Bengaluru remained stable at Rs 48, 600 for 22-carat and Rs 53,020 for 24-carat variety.
The rate of gold and silver differs every day, due to factors like state taxes, excise duty, making charges, as well as the additional GST on the finished product.
Meanwhile, in the international market, Gold prices on November 30 witnessed a slight change as gold was flat at $1,750.00 per ounce, as of 0019 GMT. U.S. gold futures fell 0.1% to $1,746.80. On the other hand, silver slipped 0.2% to $21.23. The prices also seem to carry the effect of investors being largely focused on Federal Reserve Chair Jerome Powell’s speech for insights into the U.S. central bank’s monetary policy path.
The US Federal Reserve is expected to announce yet another hike in interest rates, focused to tame inflation. The Fed Reserve officials have indicated that the interest rate could continue to be higher side till 2024. The prices of the metal are expected to remain volatile in the upcoming weeks
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