Gold and Silver Rates Shift Across Markets: Check Latest Prices Before Buying

Gold and silver prices saw notable changes over the past week of trading across the Multi Commodity Exchange and domestic markets, prompting calls for caution among buyers.

MCX and Domestic Rates

On the Multi Commodity Exchange, gold for December 4 expiry closed at 1,51,503 rupees per 10 grams on Friday, up from 1,50,390 rupees earlier in the week as trading remained closed on Friday due to Gandhi Jayanti. According to the Indian Bullion Jewellers Association website, domestic 24-karat gold closed at 1,49,430 rupees per 10 grams, compared to 1,48,138 rupees on October 1. Other qualities also recorded specific rates: 22-karat gold stood at 1,44,840 rupees, 20-karat at 1,32,990 rupees, 18-karat at 1,21,040 rupees, and 14-karat at 96,380 rupees per 10 grams.

Silver Prices

Silver prices remained relatively flat on the MCX at 2,25,820 rupees per kilogram compared to 2,25,877 rupees on October 1, staying well below its January lifetime high of 4,20,048 rupees. In the domestic market, IBJA rates showed silver closing at 2,21,109 rupees per kilogram, while retail buyers must account for a three percent GST and making charges on jewellery purchases.

Context

Precious metal prices fluctuate regularly due to a combination of domestic festive demand, currency movements, and global market trends. Buyers and investors often consult financial experts before making purchase decisions in commodities.