On Friday, December 13, 2024, both gold and silver prices saw a dip on the Multi Commodity Exchange (MCX).
Gold futures, set to mature on February 5, 2024, dropped by Rs 99, or 0.13%, closing at Rs 77,870 per 10 grams. This marked a decline from the previous close of Rs 77,969.
Silver futures, also maturing on February 5, 2024, fell by Rs 673, or 0.73%, trading at Rs 91,960 per kilogram. The previous closing price had been Rs 92,633.
The prices of gold and silver in India are influenced by multiple factors, including the value of the Indian rupee against the US dollar. Additionally, global demand for these metals plays a crucial role in shaping price trends.
International Gold and Silver Prices
In the international market, gold prices edged higher on Friday, December 13, 2024, showing signs of a weekly gain. This rise was supported by reports of China, the world’s top consumer of gold, resuming purchases. Additionally, growing expectations of an interest rate cut by the Federal Reserve during its upcoming meeting on December 17-18 also contributed to the price increase, according to Reuters.
By 0320 GMT, spot gold had risen by 0.3% to $2,688.29 per ounce, while US gold futures remained steady at $2,711.30 per ounce.
As for silver, spot prices held steady at $30.94 per ounce, with no significant changes recorded.
