Gold and silver prices moved in different directions across Indian markets. Early trading on the Multi Commodity Exchange showed gains in both metals, while physical-market prices declined. Gold became ₹390 cheaper for 24-carat purity, and silver fell by ₹5,000 per kilogram.
The MCX move came as crude oil prices declined. International markets, however, remained subdued after gold reached a one-week high in the previous session. Market attention is also focused on upcoming US inflation data, which could offer signals about the Federal Reserve's interest-rate direction.
MCX gold and silver rates
Gold for 4 December delivery had closed at ₹149543 per 10 grams in the previous session. It opened at ₹149653 and climbed about ₹300 during early trading to reach ₹149840.
Silver for 4 December delivery had settled at ₹222877 per kilogram. It opened at ₹222905 and advanced by ₹543 in early trading to touch ₹223420.
Physical-market prices
According to Goodreturns, 24-carat gold was trading at ₹149290 after declining by ₹390. The price of 22-carat gold fell by ₹350 to ₹136850, while 18-carat gold declined by ₹290 to ₹111970.
Silver was trading at ₹235000 per kilogram after an early fall of ₹5000. These physical-market rates differ from the early gains recorded for the MCX contracts.
City-wise gold rates
The following prices are for 1 gram:
| City | 24-carat | 22-carat | 18-carat |
|---|---|---|---|
| Chennai | ₹14,929 | ₹13,685 | ₹11,240 |
| Mumbai | ₹14,929 | ₹13,685 | ₹11,197 |
| Delhi | ₹14,944 | ₹13,700 | ₹11,212 |
| Kolkata | ₹14,929 | ₹13,685 | ₹11,197 |
| Bengaluru | ₹14,929 | ₹13,685 | ₹11,197 |
| Hyderabad | ₹14,929 | ₹13,685 | ₹11,197 |
| Kerala | ₹14,929 | ₹13,685 | ₹11,197 |
| Pune | ₹14,929 | ₹13,685 | ₹11,197 |
| Vadodara | ₹14,934 | ₹13,690 | ₹11,202 |
| Ahmedabad | ₹14,934 | ₹13,690 | ₹11,202 |
International prices
Spot gold declined by 0.2% to $4,161.81 per ounce after reaching a one-week high in the previous session. US gold futures for December delivery fell by 0.1% to $4,186.60.
Spot silver also eased, declining by 0.4% to $60.09. The market is awaiting US inflation data for further indications about the Federal Reserve's interest-rate path.
Conclusion
Physical-market gold and silver prices declined, even as early MCX trading recorded gains in both metals. City-wise gold rates show the prices reported for 24-carat, 22-carat and 18-carat gold across major markets.
Frequently Asked Questions
Q. How much did 24-carat gold fall in the physical market?
24-carat gold declined by ₹390 and was trading at ₹149290.
Q. How much did silver fall in the physical market?
Silver declined by ₹5000 and was trading at ₹235000 per kilogram.
Q. What was the early MCX price of 4 December gold delivery?
It reached ₹149840 during early trading.
Q. What was the early MCX price of 4 December silver delivery?
It climbed to ₹223420 during early trading.
Q. Which market event is being watched internationally?
The market is watching upcoming US inflation data for signals about the Federal Reserve's interest-rate direction.
