Gold, silver slide in India as Fed rate hike bets hit 100%, rupee offers little relief
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Gold prices in India fell 1.6% on Thursday, November 12, as the precious metal dropped to Rs 1,37,720.
- ✓Silver also fell 2.37% to Rs 1,81,534 per kg.
- ✓A stronger US dollar and rising expectations of Federal Reserve rate hikes pushed prices down, as investors reacted to recent US inflation data.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Financial Express
- Reading Speed
- 6 Minute(s)
- Market Focus
- India Economy
Gold Price in India and in US dollars
Gold price in India fell 1.6% on Thursday, November 12. The spot price for gold in India opened at Rs 1,37,720, after closing at Rs 1,39,963 on Wednesday. Silver is down at Rs 1,81,534 per kg, falling 2.37% from Wednesday’s close of Rs 1,85,949. On MCX, gold futures trade lower by 1.4% at Rs 1,37,755 per 10 grams, while silver futures trade at Rs 1,81,400 per kg, down by nearly 1.69%.
Gold and silver prices in India (November 12)
Source: MCX India
In the international market, gold held below $4,000 an ounce at $4,961, after sliding for two straight sessions, and silver traded below $52 an ounce, at $51.3 an ounce, on Thursday.
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