Gold price today: The rates of gold and silver climbed in the domestic futures market on Wednesday morning (November 12), supported by the dollar’s softness and growing expectations of a rate cut by the US Federal Reserve in December. MCX gold December futures traded 0.34 per cent higher at ₹124333 per 10 grams around 9:05 am, while MCX silver December contracts were up 0.51 per cent at ₹1,55,480 per kg at that time.
International gold prices gained for a fourth consecutive session amid expectations that the flow of economic data after the reopening of the US government will support views for a US Fed rate cut in December.
The dollar index hit an intraday low of 99.46, which is positive for gold as the yellow metal becomes cheaper in overseas currencies when the greenback softens.
(This is a developing story. Please check back for fresh updates.)
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