Commodities & Forex
Gold holds near $4,180; India 24K at ₹1,48,040 per 10g, silver ₹2.3 lakh/kg
Silver outshines gold as the gold-silver ratio drops below 72; festive buyers face near-record prices.
Spot gold traded between about $4,140 and $4,180 an ounce on Monday depending on the time of day, roughly flat overall. Silver did better, rising about 0.8% to around $58.2, which pulled the gold-to-silver ratio down to about 71.8 from 72.4.
In India, 24-carat gold was quoted at ₹1,48,040 per 10 grams in most big cities, up ₹380, and 22-carat at ₹1,35,700. MCX December gold futures traded near ₹1,48,200. Retail silver held at ₹2,30,000 per kg in most cities and ₹2,40,000 in Chennai, Hyderabad and Kerala.
Gold is being pulled two ways: a stronger dollar and US yields above 5% weigh on it, while easing oil prices calmed inflation fears and steady central-bank buying keeps a floor under prices.
Gold usually falls when the dollar and US yields rise, so holding steady during both is a sign of strong underlying demand, much of it from central banks rebuilding reserves.
Because India imports nearly all its gold, a weaker rupee makes it costlier at home even when global prices are flat. Prices this high can dampen festive-season jewellery buying, while large gold imports add to India's trade deficit.
Written with AI assistance by TotalMarket. Based on the sources linked in this article; key facts and data should be checked against the original sources. This article is for information only and is not investment advice.
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