After trading on the higher side yesterday, both gold and silver were trading on the lower side of the Multi Commodity Exchange (MCX) on Friday, December 2.
Recording a marginal dip of Rs 83 or 0.15 per cent, gold futures, maturing on February 3, 2022, stood at Rs 53,825 per 10 grams on the MCX.
Meanwhile, silver futures, maturing on March 3, 2022, witnessed a downfall of Rs 52 or 0.08 percent and were retailing at Rs 65,440 per kg on the MCX.
Notably, the prices of gold and silver stood at Rs 53,893 per 10 grams and Rs 65,409 per kg respectively when the market closed on December 1.
GOLD, SILVER PRICES IN MAJOR CITIES
Notably, the gold and silver prices in India depend on several factors, including the value of the rupee against the dollar.
Global demand also plays a key role in determining the trends observed in the rate of precious metals.