MCX gold, silver rally up to 2.7%: Is the bullion correction over
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Gold and silver prices traded higher on the Multi Commodity Exchange on Wednesday, November 11, recovering from recent losses.
- ✓Silver led the rebound, gaining 2.71%, while gold rose 0.81%.
- ✓Vikram Subburaj said, "Silver led the recovery as India's bullion futures market returned to its regular morning trading session on Wednesday."
Story at a Glance
- Category
- Indian Markets
- Reported By
- CNBC TV18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Gold and silver prices traded higher on the Multi Commodity Exchange (MCX) on Wednesday, November 11, recovering some of the losses recorded in the previous session.
Silver led the rebound, gaining more than 2%, while gold rose nearly 1%.
On MCX, December gold futures were trading at ₹1.41 lakh per 10 grams, up 0.81%. December silver futures climbed 2.71% to ₹1.87 lakh per kg.
The recovery follows a sharp sell-off on Tuesday (November 9), when bullion prices fell nearly 3% after stronger-than-expected US inflation data strengthened expectations of further interest rate hikes by the US Federal Reserve.
Why are gold and silver prices rising today?
The rebound in domestic bullion prices follows a recovery in international markets. Spot gold rose 0.3% to $4,044.56 per ounce, while US gold futures gained 0.6% to $4,052.50 an ounce on Wednesday (November 10).
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