Gold Price Today, December 6: Yellow metal drops below Rs 54000 on MCX after a five-month high — Check rates in Delhi, Mumbai and other cities

Gold Price Today, December 6: Gold prices dropped on the Multi Commodity Exchange (MCX) today after reaching a five-month high on Monday. Gold, which was trading at Rs 54,000 on December 5, has now reached the level of Rs 53691 on December 6.

The precious metal has become cheaper by approximately Rs 300 in the futures market on the second day of the week compared to the first day. Silver showed dullness too.

At 02:00 PM today, both metals were trading in green. Gold February's futures quoted Rs 53691 per 10 grams, up by 0.35 percent. Whereas Silver metal was trading at 0.84 percent and after crossing Rs 65,000 level. The Silver March futures were at Rs 65,731 per kg, in the afternoon trade. The metal was trading at the level of Rs 67,000 per kg on December 5, Monday.

In the national capital, gold fell by Rs 473 to Rs 53,898 per 10 grams on Tuesday amid weak global trends, according to HDFC Securities. Silver also tumbled by Rs 1,241 per kg to Rs 65,878 per kilogram, as per a PTI report.
 
The precious metal had touched Rs 54,371 per 10 gram in the previous trade.

Dilip Parmar, Research Analyst at HDFC Securities, was quoted by PTI as saying that "stronger-than-expected US services data on Monday renewed pressure on the US Fed to keep interest rates higher for a longer and triggered a slide in the yellow metal." 

Globally, gold was trading lower at USD 1,770.75 per ounce, while silver was down at USD 22.38 per ounce.

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It should be noted that it was the first time since in the past six months when gold price on MCX topped Rs 54,000 on Monday, December 5.

Gold Price City-wise In India as of December 6, 2022 for 24k:

Chennai- Rs 54,650

Mumbai- Rs 53,780

Delhi- Rs 53,930

Kolkata- Rs 53,780

Bangalore- Rs 53,830

Hyderabad- Rs 53,780

Kerala- Rs 53,780

Pune- Rs 53,780

Vadodara- Rs 53,830

Ahmedabad- Rs 53,830

Lucknow- Rs 53,930

Vijayawada- Rs 53,780

Patna- Rs 53,830

Nagpur- Rs 53,780

Chandigarh- Rs 53,930

Surat- Rs 53,830

Bhubaneswar- Rs 53,780

Visakhapatnam- Rs 53,780

Nashik- Rs 53,830

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before investing/purchasing.)

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On Tuesday, the rupee declined 24 paise to 82.09 against the US dollar in early trade as heavy selling pressure in domestic equities and rising crude prices overseas weighed on investor sentiment.