Gold price today December 6: Yellow metal up by Rs 350, silver traded high on Monday

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The Indian bullion markets were slightly higher on the first day of the week, i.e. December 6. Both gold and silver were trading higher but by less than 0.5% in the early trade. The 24-carat variant of the yellow metal was trading at Rs 47,877/10 gm, up by Rs 347/10 gm from previous day’s price of Rs 47,530/10 gm, according to rates provided by the Indian Bullion and Jewellers Association (IBJA). The price of 22-carat gold was trading at Rs 43,855/10 gm, up by Rs 318 from previous day’s rate of Rs 43,537/10 gm.

The 24-carat variant of the yellow metal was trading at Rs 47,877/10 gm, up by Rs 347/10 gm from previous day’s price of Rs 47,530/10 gm, according to rates provided by the Indian Bullion and Jewellers Association (IBJA). The price of 22-carat gold was at Rs 43,855/10 gm, up by Rs 318 from the previous day’s rate of Rs 43,537/10 gm.

“Gold traders are closely watching any sign of mutations in Omicron variant as the data is not sufficient to understand the severity and impact. Gold prices is expected to maintain uptrend this week and short covering may be seen at dips,” said Ravi Singh, vice president, ShareIndia.

“Gold prices were moderately higher in early US trading on Friday and got a boost after the key component of the monthly US employment report did not meet market expectations,” said Amit Khare, AVP- research commodities, Ganganagar Commodity Limited.

Silver traded high

Like the yellow metal, silver was also slightly up in the early session on December 6 and remain in Rs 61,000/kg zone. The white metal was trading at Rs 61,233/kg, up by Rs 216/kg from the previous day’s price of Rs 61,017/kg on December 6.

“Gold and silver showed positive movement on December 3 trading session in spot market and MCX. We are seeing huge volatility in bullions and this may continue for full month of December,” said Khare.

“As per technical charts gold and silver both are trading at oversold zone. The current levels are the best prices for short term investors,” he added.