New Delhi | Jagran Business Desk: The prices for 24 carat Gold on Thursday inched closer to ₹48,000 per 10 gram at ₹47,940, an increase of ₹340 from the previous day's prices. The Gold prices have cummulatively increased by ₹61 this week. Meanwhile, the 22 carat Gold remained at ₹47,000 per 10 gram in the national capital. However, on Multi-Commodity Exchange (MCX), the gold contracts were up 0.41 percent to ₹47,614 for 10 grams at 9.30 am on Friday. Silver futures reduced by 0.06 percent to ₹63,115 a kilogram.

On the MCX, gold has support at ₹47,250-47,100 and resistance at ₹47,660-47,850, while silver has support at ₹62,660-62,220 and resistance at ₹63,600-64,100.

Highlights of Thursday, November 25

Gold prices on Wednesday decreased by 0.2 per cent in Indian futures markets to ₹47,530 per 10 gram. Silver prices, meanwhile, increased 0.5% to ₹62,981 per kg

However, in retail, the price of 10 grams of 22-carat gold in  New Delhi and Mumbai, reached tp Rs 46,840 and Rs 46,620 respectively, news agency PTI reported.

According to the latest Multi Commodity Exchange data, the value of gold futures rose by 0.22 percent to Rs 47,544.00 on Thursday. Additionally, silver futures also reported an increase of 0.40 percent, which now stands at Rs 62,885.

Highlights of Wednesday, November 24:

Gold prices on Wednesday increased by Rs 128 to Rs 47,562 per 10 gram in futures trade as speculators created fresh positions amid firming spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 128, or 0.27 per cent, to Rs 47,562 per 10 gram in a business turnover of 4,387 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said. However, globally, gold prices traded 0.59 per cent lower at USD 1,796.80 per ounce in New York.

Highlights of Tuesday, November 23:

Gold prices on Tuesday fell by Rs 106 to Rs 47,817 per 10 gram in futures trade as speculators reduced their positions amid low demand. Gold futures, therefore, fell low on demands. On the Multi Commodity Exchange, gold contracts for December traded lower by Rs 106, or 0.22 per cent, to Rs 47,817 per 10 gram in a business turnover of 4844 lots.

Analysts attributed the fall in gold prices to trimming of positions by participants, news agency PTI reported. Globally, gold traded 0.17 per cent lower at USD 1,806.10 an ounce in New York.

According to Mumbai-based industry body India Bullion and Jewellers Association (IBJA), Domestic spot gold with a purity of 24 carats opened at Rs 48,076 per 10 grams on Tuesday, and silver at Rs 64,532 per kilogram - both rates excluding GST (goods and services tax).

On the Multi-Commodity Exchange (MCX), the gold contracts increased by 0.09 per cent to Rs 47,968 for 10 grams at 9.20 am on November 22. Silver futures gained 0.14 per cent to Rs 64,660 a kilogram. At MCX, gold has support at Rs 47700-47550 and resistance at Rs 48100-48330 while silver has support at Rs 64200-63900 and resistance at Rs 64900-65200.

Highlights of Monday, November 22:

Gold price in the national capital increased marginally by Rs 17 to Rs 47,869 per 10 gram on Monday as rupee showed depreciation, HDFC Securities said. In the previous trade, the precious yellow metal had settled at Rs 47,852 per 10 gram.

Meanwhile, Silver increased Rs 444 to Rs 64,690 per kilogram from Rs 64,246 per kilogram in the previous trade.

The Indian National Rupee also depreciated 10 paise to close at Rs 74.40 against the US dollar on Monday. In the international market, both gold and silver were trading flat at USD 1,846 per ounce and USD 24.85 per ounce, respectively.

Posted By: Mukul Sharma