Precious metals traded lower in early trade on Wednesday, with gold falling over Rs 400 and silver declining by Rs 879 amid weak demand. The gold futures contract, December 4 expiry, hit an early low at Rs 1,48,00 per 10 grams, down Rs 450 from the last closing of Rs 1,48,450 on Multi Commodity Exchange (MCX).

Similarly, the silver futures contract due to expire on December 4 declined by Rs 879 to an early low of Rs 2,18,338 per kilogram from the last day's closing of Rs 2,19,217 on MCX.

"Domestic gold prices remain subdued despite a modest uptick in COMEX gold, as continued rupee strength offsets gains in the international market. The bias remains cautious, with a sustained move above ₹150,000 needed to stabilise prices. A decisive break below Rs 148,000 could trigger a slide toward Rs 146,000," said Ponmudi R, CEO of Enrich Money. 

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However, the precious metals recovered from the early losses and were trading flat. At around 10:42 AM, MCX gold was trading at Rs 148480, up Rs 30 or 0.02 per cent. MCX Silver was trading at Rs 219197, down Rs 20 or 0.01 per cent.

Gold Rates In International Market

Gold and silver prices were trading contrary in the international market. Last seen, COMEX gold was trading at $4184.80, up $7.50 or 0.18 per cent. COMEX Silver was quoted at $59.405, down $12 or 0.20 per cent. 

24k, 22k Gold Rates In Mumbai, Delhi And Key Cities

  • Gold Rate Today In Delhi: 24k- Rs 1,47,830/10 Gram , 22k- Rs 1,35,511/10 Gram
  • Gold Rate Today In Mumbai: 24k- Rs 1,48,080/10 Gram , 22k- Rs 1,35,740/10 Gram
  • Gold Rate Today In Kolkata: 24k- Rs 1,47,880/10 Gram , 22k- Rs 1,35,557/10 Gram
  • Gold Rate Today In Chennai: 24k- Rs 1,48,510/10 Gram , 22k- Rs 1,36,134/10 Gram
  • Gold Rate Today In Bangalore: 24k- Rs 1,48,190/10 Gram , 22k- Rs 1,35,841/10 Gram
  • Gold Rate Today In Hyderabad: 24k- Rs 1,48,310/10 Gram , 22k- Rs 1,35,951/10 Gram