Gold and Silver are Trading: Gold inched higher on Monday as elevated U.S. consumer prices lifted its appeal as an inflation hedge, while investors awaited a flurry of central bank meetings this week, including by the U.S. Federal Reserve, for further direction.
Gold and silver prices in the international market:
Gold inched higher on Monday as elevated U.S. consumer prices lifted its appeal as an inflation hedge, while investors awaited a flurry of central bank meetings this week, including by the U.S. Federal Reserve, for further direction.
Meanwhile, spot gold rose 0.2 per cent to $1,786.51 per ounce by 0213 GMT, after Friday’s 0.8 per cent gain. U.S. gold futures were up 0.2 per cent to $1,787.70.
U.S. consumer prices increased further in November as the cost of goods and services rose broadly amid supply constraints, leading to the largest annual gain since 1982.
The dollar index was quiet at the start of a week in which central bank meetings will likely drive currency markets. According to the reports, the Fed is widely expected to signal a faster tapering of asset buying this week, and thus an earlier start to rate hikes.
The metal report revealed that spot silver rose 0.4 per cent to $22.26 an ounce.
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 47,270 | Rs 61,200 |
| MUMBAI | Rs 46,770 | Rs 61,200 |
| KOLKATA | Rs 47,270 | Rs 61,200 |
| CHENNAI | Rs 45,290 | Rs 65,300 |
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