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Gold prices today: Yellow metal prices touch nearly Rs 53,000, Silver gains as dollar slides

Gold prices today: Yellow metal prices touch nearly Rs 53,000, Silver gains as dollar slides

Gold prices today: Yellow metal prices touch nearly Rs 53,000, Silver gains as dollar slides
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By CNBCTV18.com Nov 16, 2022 2:02:46 PM IST (Updated)

Gold prices today, November 15: On MCX, gold prices jumped nearly 0.5 percent to Rs 52,994 per 10 grams. Meanwhile, Silver prices gained by Rs 411 to touch Rs 62,881.

Domestic gold prices were up against the sliding dollar amid hopes that the Federal Reserve would adopt a less aggressive approach on rate hikes going forward. On MCX, gold prices jumped nearly 0.5 percent to Rs 52,994 per 10 grams. Meanwhile, Silver prices gained by Rs 411 to touch Rs 62,881.

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Globally, Spot gold was up 0.5 percent at $1,779.94 per ounce, as of 0745 GMT, hitting its highest since August 17.
The gains in metal prices come as dollar slumped on Tuesday. Around 2 pm on Tuesday, the US Dollar Index Futures were down nearly 0.5 percent at 105.990. supported by this, the rupee appreciated to 81.11 vs the US dollar on Tuesday.
Besides, Crude oil prices fell on Tuesday after Organization of the Petroleum Exporting Countries (OPEC) slashed its 2022 global demand forecast. The OPEC cut its 2022 global oil demand growth forecast for the fifth time since April, citing mounting economic challenges including high inflation and rising interest rates.
Moreover, on Tuesday, Indian equity benchmarks BSE Sensex and NSE Nifty50 started the session without major gains before slipping into the red later in the trade.
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