Gold, silver prices rise after Diwali: What's driving the surge and what should investors do?
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Gold and silver prices rose on Monday, November 9, following Diwali.
- ✓International gold climbed above $4,100 per ounce, while silver moved past $53.
- ✓Amit Gupta said, "Gold prices extended gains as softer oil prices eased inflation concerns." Many investors now watch upcoming US inflation data for cues on future market moves.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Today
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Gold and silver prices witnessed a strong rally on Monday, November 9, extending their recovery after a volatile period. Just a day after Diwali, precious metals regained their shine, with international gold climbing above $4,100 per ounce and silver moving past $53 per ounce.
Softer crude oil prices, easing inflation concerns and continued central bank buying supported the recovery.
Spot gold rose 1.6% to $4,129.69 per ounce, while US gold futures for December delivery gained 1.6% to $4,139 per ounce. Silver advanced over 2% to trade around $53.07 per ounce.
Domestic Gold And Silver Prices
On the Multi Commodity Exchange (MCX), gold was trading at ₹1,43,750 per 10 grams, up 0.84%. Silver climbed 1.62% to ₹1,88,102 per kg.
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