Overview
- In Mumbai, 24-carat gold was quoted at Rs 1,25,850 per 10 grams and 22-carat at Rs 1,15,360 on November 12.
- MCX December gold futures gained 0.34% to Rs 1,24,340 per 10 grams, while silver futures rose 0.67% to Rs 1,55,725 per kilogram.
- Spot silver was reported near Rs 1,60,100 per kilogram in the domestic market.
- Across major cities, rates were narrowly ranged, with Delhi at Rs 1,25,980 for 24K and Rs 1,15,510 for 22K and Ahmedabad at Rs 1,25,900 for 24K and Rs 1,15,410 for 22K.
- Analysts cited early buying and subsequent profit-booking, noting that improving sentiment around a US shutdown resolution trimmed safe-haven demand as markets put Fed cut odds near 68%.