The Global Precious Metals MMI (Monthly Metals Index) narrowly missed trading flat, only inching up a slight 0.17%. During the period from November 1 to December 1, precious metals prices, specifically gold and silver, surged significantly. For instance, the price of gold increased from $1,839.01 per troy ounce to $2,037.74, marking a substantial 10.81% uptick.
On December 1, 2023, the Multi Commodity Exchange (MCX) witnessed an increase in the prices of both gold and silver. Gold futures traded at Rs 62,786 per 10 grams, and silver futures reached Rs 77,777 per kilogram. A range of factors, including subdued inflation levels and strong international demand, contributed to gold and silver’s rise. Despite this, it remains questionable if these trends will continue.
