Gold and silver prices showed a downward move on December 4, compared to the previous trading session. However, the prices are still 1.6 per cent higher than the last five days. The spot gold prices in the international market also moved down by 1 per cent to $2,630 per ounce. The downward price trend can be attributed to the strong Dollar Index (DXY) pulling the prices lower.
“Domestically, the correction is here for the better as India enters the wedding season, one of the two biggest gold-buying seasons in the country. Given the sentimental value attached to the yellow metal, the price factor plays a minimal role in influencing the buyer’s decision, keeping the overall demand robust,” said Colin Shah, MD of Kama Jewelry.
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Gold and silver rates today, December 04
The 24-carat gold rate in India was quoted for a price of Rs 76,780 per 10 grams on December 04. The rate for 24-carat gold per gram is Rs 7,678. While the rate of 22-carat gold was Rs 70,382 per 10 grams.
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The price of 24-carat gold has risen by 1.02% in the last week. However, it has fallen by 1.46% in the last ten days. The silver is available to Indian customers today at a price of Rs 91,830 per kilogram.
Gold rate in Mumbai on December 04
Today, the 24-carat Gold is priced at Rs 76,780/10 grams. On December 03, the gold was available for Rs 76,540/10 grams. A week back, on November 26, gold was sold for Rs 76,000/10 grams.
Silver rate in Mumbai on December 04
Silver was sold for a price of Rs 91,830/Kg on December 04 in Mumbai, a fall of Rs 1,340 from December 03, when it was priced at Rs 90,490/Kg and a week ago the price was Rs 87,940.
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