Gold and Silver Prices This Evening: White metal surges by nearly Rs 5,000, yellow rises by about Rs 1,500

The bullion market experienced another strong session on Wednesday, with gold and silver prices still in their upward direction due to the demand for the festival and global cues. Gold showed an increase of Rs 1,800 from previous close, whereas silver price made a significant rise of Rs 4,746 at 8:52 pm, which was indicative of the precious metal’s segment being more attractive to the investors again.

On the Multi Commodity Exchange (MCX), gold prices today were trading around Rs 1,25,475 per 10 grams by 8:54 pm, marking a 1.26 per cent rise. Yesterday, the yellow metal had closed at Rs 1,23,913, and it has since surged by nearly Rs 1,800, reaching an intraday high of Rs 1,25,713. However, the day’s intraday low was recorded at Rs 1,23,648.

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Over the past few days, gold has shown consistent growth. For instance, on November 10, gold was trading around Rs 1,21,768, and now it is hovering near Rs 1.25 lakh, reflecting an overall increase of nearly Rs 6,000 within just a few days.

In the international market, gold prices were seen trading near $4,162.97 per ounce, up 1.28 per cent. While the metal has gained 1.37 per cent intraday, it remains down by 0.89 per cent over the past 30 days, suggesting a mild correction on the global front despite strong domestic momentum.

Silver prices witnessed huge surge recently, with the white metal climbing Rs 4,746 intraday, or about 3.07 per cent, compared to the previous close of Rs 1,54,687. The intraday high for silver touched Rs 1,59,476, while the intraday low stood at Rs 1,54,926.

On the global stage, silver was trading around $52.54 per ounce, showing a 3.23 per cent rise. However, similar to gold, silver prices have declined by 0.89 per cent over the past 30 days, indicating short-term volatility amid changing global economic cues.

Current gold and silver prices rally, according to experts, is backed by a strong demand, as well as the possible changes in the central bank’s policies and safe-haven buying due to global uncertainties. They are seen as the bullish metals in the near time since the investor sentiment is still positive.