Gold, silver price today, November 22, 2024: Precious metals record hike on MCX

Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Friday, November 22, 2024.
Gold futures, maturing on December 5, 2024, stood at Rs 77,105 per 10 grams on the MCX, after recording a jump of Rs 412 or 0.54 per cent. The previous close was recorded at Rs 76,693.
Meanwhile, silver futures, maturing on December 5, 2024, witnessed a marginal hike of Rs 103 or 0.11 per cent and were retailing at Rs 90,028 per kg on the MCX against the previous close of Rs 89,925.
GOLD, SILVER PRICES IN MAJOR CITIES
The gold and silver prices in India depend on several factors, including the value of the rupee against the dollar. Global demand also plays a key role in determining the trends observed in the rate of precious metals.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalations in the Russia-Ukraine war, while investors assessed the outlook for U.S. interest rate cuts, news agency Reuters reported.
According to the latest metal report, spot gold gained 0.7 per cent at $2,688.70 per ounce by 0306 GMT, while, U.S. gold futures rose 0.6 per cent to $2,691.00.
Among other precious metals, spot silver rose 0.6 per cent to $30.97 per ounce.