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News Topical, Digital Desk : With the wedding season beginning, both gold and silver prices are seeing a dramatic jump. On Tuesday, November 11th, both continued to shine in the market for the second consecutive day. Significantly, silver rose twice as fast as gold this time. Prices rose sharply from the domestic market to the international market.
In the international market (COMEX) on Tuesday, gold reached $1,4146.70 per ounce (about Rs. 366,997), while silver rose 1.40% to trade at $51.01 (about Rs. 4,515 per ounce). Analysts say that prices have been supported by a weakening dollar in the US and Europe and increased wedding demand.
Huge jump on MCX (Gold Silver Price on MCX)
By 6 p.m. on the Multi Commodity Exchange (MCX), gold rose by ₹784 (gold rate today) to ₹1,24,754 per 10 grams. Its low during the day was ₹1,24,505 and high was ₹1,25,839. It had closed at ₹1,23,970 on the previous trading day.
Meanwhile, silver saw a strong rise of 1.14%. The price rose by Rs 1,749 to Rs 1,55,440 per kilogram (silver rate today). During this period, its lowest level was Rs 1,54,044 and its highest level was Rs 1,56,079. On Monday, it closed at Rs 1,54,691.
Gold Silver Price on IBJA increased by up to Rs 3000
According to the IBJA (India Bullion and Jewellers Association), 24-carat gold reached ₹1,24,129 (gold price today) per 10 grams as of 5 p.m. Tuesday, up ₹1,688 from Monday's close. Silver, meanwhile, jumped ₹3,117 to ₹1,54,760 per kilogram (silver price today), up from ₹1,51,643 on Monday.
Experts say that gold and silver prices may remain elevated in the coming days due to increased domestic demand, festivals, and the wedding season. However, prices are now at a high level for investment, so it is advisable to make purchases with caution.
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