Gold Prices Today Rise Marginally But Off Record Highs

Gold Prices in India: Gold prices rose marginally by Rs 17 to Rs 48,257 per 10 gram in the national capital on Thursday, November 26. In the previous trade, the yellow metal had closed at Rs 48,240 per 10 gram. As compared to the record highs in the month of August, almost touching ₹ 56,200, gold prices are now down about ₹ 7,000. Silver prices also gained Rs 28 to Rs 59,513 per kilogram from Rs 59,485 per kilogram in the previous trade. "Spot gold prices for 24 carat in Delhi were marginally up by Rs 17 limiting upside on rupee appreciation,'' said HDFC Securities Senior Analyst (Commodities) Tapan Patel.
 

Domestic spot gold closed at Rs 48,972 per 10 grams on Thursday, and silver at Rs 60, 260 per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). Multi Commodity Exchange (MCX) gold futures were last seen trading 0.16 percent higher at Rs 48,592, while silver gained 0.11 per cent higher at Rs 59,906.

In the international market, gold was trading with gains at $1,815 per ounce, while silver was quoting flat at $ 23.42 per ounce. "Gold prices witnessed some short recovery on holiday-shortened week as US markets are closed today on Thanksgiving as investors turned cautious over vaccine progress and stimulus hopes," Patel added.

Meanwhile, the rupee appreciated three paise to close at 73.88 (provisional) against the US dollar on Thursday, tracking sustained foreign fund inflows and a weak American currency. At the interbank foreign exchange market, the local unit opened at 73.85 against the greenback and registered an intra-day high of 73.75.