Gold Prices in India: Gold and silver prices in markets today increased for the third day in a row. The price of the yellow metal increased by Rs 481 to Rs 48,887 per 10 grams in the national capital on Thursday, December 3. Silver rates went up by Rs 555 to Rs 63,502 per kilogram today. Gold and silver prices increased amid bullish trends in the global precious metal prices. Yesterday, gold settled at Rs 48,406 per 10 grams, while silver rates touched Rs 62,947 per kilogram in the previous trade. Multi Commodity Exchange (MCX) gold futures were last seen trading 1.12 per cent higher at Rs 49,189. Silver gained 1.36 per cent higher at Rs 63,000. (Also Read: From Bonds, Derivatives To Jewellery, How To Invest Your Money In Gold )
Domestic spot gold closed at ₹ 49,432 per 10 grams on Thursday, and silver at ₹ 63,118 per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). ''Gold prices traded higher on expectations of stimulus package from the US and European Union. There has also been significant progress on the COVID-19 vaccine front,'' said Tapan Patel, HDFC Securities Senior, Analyst (Commodities).
In the international market, gold prices climbed to $1,841 per ounce and silver price was flat at $24.16 per ounce.
''Gold gained 1 per cent this afternoon, continuing its rally from the last three sessions, making a three white soldier pattern in daily candle, which indicates that it will be more bullish ahead. International gold prices are trading flat to marginally higher this early Thursday afternoon trade as the U.S. Dollar continues to struggle near its 21/2 year low amid talks of a U.S. stimulus aid package from the U.S,'' said Kshitij Purohit, Product Manager Commodities & Currency, CapitalVia Global Research Limited.
He added that gold spot took a gap up opening with breaking a resistance of 49100, and now trading near 49400 with maintaining a next level of 49500, if it breaks and sustains above then may lead to 49750-50000 soon. Gold climbed as the dollar dropped on hopes that coronavirus vaccines will be rolled out soon and cautious investor optimism over a U.S stimulus deal.