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Gold, Silver prices today: Precious metals record marginal jump on MCX on December 3| Check latest rates here

India Today logo India Today 03-12-2021 India Today Web Desk

On December 3, gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX), for the second time in a row. Witnessing a hike of Rs 239 or 0.50 per cent, gold futures, maturing on February 4, 2022, are trading at Rs 47,501 per 10 grams on the MCX.

Meanwhile, recording a marginal hike of Rs 70 or 0.11 per cent, silver futures, maturing on March 4, 2022, stand at Rs 61,165 per kg.

Gold and silver prices in the international market:

According to Reuter's report, gold was set for a third straight weekly drop on Friday, weighed down by signals from Federal Reserve officials that the central bank could end its pandemic-era asset purchases and raise interest rates faster than expected to combat surging inflation.

Meanwhile, spot gold rose 0.1 per cent to $1,771.04 per ounce by 0056 GMT after hitting its lowest in nearly a month on Thursday. The metal has declined 1.3 per cent so far in the week. U.S. gold futures gained 0.5 per cent to $1,770.90.

The U.S. Federal Reserve Bank of Atlanta President Raphael Bostic told the Reuters Next conference on Thursday it would be appropriate to end the central bank's bond-buying programme by the end of March to allow the Fed the option to raise rates to deal with inflation.

On the other hand, the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell about 0.5 per cent to 986.17 tonnes on Thursday from Wednesday. Spot silver rose 0.1 per cent to $22.40 an ounce.

Gold and Silver prices in major Indian cities:

CITY GOLD (per 10 grams, 22 carats) SILVER (per kg)
NEW DELHI Rs 46,250 Rs 61,200
MUMBAI Rs 46,080 Rs 61,200
KOLKATA Rs 46,400 Rs 61,200
CHENNAI Rs 44,170 Rs 65,000

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