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Today, on Thursday, November 12, gold prices are seeing a rise. Along with gold, silver prices have also increased. Gold and silver prices are also seeing an increase in the domestic futures market. In early trade on the MCX exchange, gold for delivery on October 4, 2024 was seen trading at Rs 71,945 per 10 grams with a gain of 0.03 per cent or Rs 18. On Wednesday, the spot price of gold in the capital Delhi rose by Rs 500 to Rs 74,600 per 10 grams. Along with gold, domestic silver prices have also seen an increase.
What is the reason for the increase in the price of gold?
Gold prices mainly depend on the demand and supply of gold in the international market. The demand for gold is increasing during the festive season and its prices are seeing a jump. Apart from this, global economic conditions and inflation have an impact on gold prices.
Silver Price
Domestic silver futures prices were also seen trading in the green zone. On Thursday morning, silver for delivery on December 5, 2024 was trending at Rs 84,701 per kg on the MCX exchange, up 0.30 per cent or Rs 251. On Wednesday, the spot price of silver in Delhi rose by Rs 500 to Rs 85,000 per kg.
Gold on a global scale
On Thursday, the price of gold rose globally in early trade. The price of gold on Comex was seen trading at $2543.50 per ounce with a gain of 0.04 percent or $1.10. While spot gold was seen trading at $2,516.95 per ounce with a gain of 0.21 percent or $5.19.
Silver price globally
Along with gold, fluctuations have also been seen in the prices of silver in the global market. On Comex, silver was seen trading at $29.03 per ounce with an increase of 0.35 percent i.e. $0.10. While spot silver was seen trading at $28.74 per ounce with an increase of 0.22 percent i.e. $0.06.