27 November,2025 11:53 AM IST | Mumbai | mid-day online correspondent
Representational Image. File Pic
Amid the critical geopolitical tensions, the prices of gold and silver fell in early trade on the MCX on Thursday. After experiencing a rally in the last few weeks, the yellow metal, along with silver, declined significantly, as per IANS.
The decline came even as investors continued to watch for signals from the US Federal Reserve ahead of its monetary policy meeting next month.
Apart from the MCX, the price of gold in Mumbai also experienced a slight drop in prices that has again made the customers a lot more interested in buying it. With 24-carat gold priced at Rs. 1,28,060 for 10 grams, the prices of silver were recorded at Rs. 1,61,269 per kg.
During early trade, MCX Gold December futures were down 0.36 per cent at Rs 1,25,480 per 10 grams, while MCX Silver December contracts slipped 0.20 per cent to Rs 1,60,950 per kg.
Experts, while addressing the change in prices, said, "In INR, gold has support at Rs1,25,350-1,24,780 while resistance at Rs1,26,650-1,27,100. Silver has support at Rs 1,60,350-1,59,600 while resistance is at Rs 1,62,110, 1,63,000," as per IANS.
The ongoing wedding season across India has surely made the demand for the yellow metal quite significant. Despite the fact that gold remains one of the costliest metals for jewellery, people are mostly interested in buying it rather than any other metal. Talking about the prices, 10 grams of 24-carat gold in Mumbai on Thursday was recorded at Rs. 1,28,060. While 22 carats of gold was priced at Rs. 1,17,400 for 10 grams.
While the prices in Mumbai did experience a hike on Thursday, the national capital also recorded a slightly higher price for gold. The price for 10 grams of 24-carat gold in Delhi on Sunday was recorded at Rs 1,28,200. At the same time, the price of 22-carat gold was recorded at Rs. 1,17,540 for 10 grams.
Talking about the global factors affecting the gold prices, the recent economic data has increased expectations of a further possible rate cut in December.
US retail sales grew at a slower pace than expected in September, rising 0.2 per cent compared to a 0.6 per cent increase in August, reported IANS.
(With inputs from IANS)
