Gold price today: The rates of gold and silver rose on the MCX on Friday morning (November 7), tracking positive global cues and the dollar’s decline against its peers. MCX Gold December futures were 0.27 per cent up at ₹1,20,939 per 10 grams at 9:15 am, while MCX Silver December futures were 0.60 per cent up at ₹1,47,938 per kg at that time.
International gold prices rose as private-sector job reports raised expectations of another US Federal Reserve rate cut in December. The US government shutdown, which began on 1 October and is now the longest in US history, also boosted demand for safe havens.
Meanwhile, the dollar index declined below the 100 mark, which also influenced gold prices. The dollar’s weakness makes gold more affordable in overseas currencies, potentially increasing its demand.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
