Gold and silver prices remained under pressure on Friday, November 13, as precious metals continued to hover near their 52-week lows amid global economic uncertainty and concerns over rising interest rates. Both metals extended their losing streak for a third consecutive session, with a stronger US dollar and rising Treasury yields weighing on investor sentiment.
In the international market, spot gold declined 0.88 per cent to around $3,911 per ounce during early trade, while silver slipped more than 1 per cent to trade near $51 per ounce. However, US gold and silver futures witnessed some recovery during the session.
The recent weakness in bullion prices comes amid growing expectations of another US Federal Reserve interest rate hike in December. Higher interest rates and Treasury yields tend to reduce the appeal of non-interest-bearing assets such as gold and silver.
Gold and silver prices today: City-wise rates on November 13
Here is a look at the indicative gold and silver prices across major Indian cities on Friday:
| City | 22K gold (10g) | 24K gold (10g) | Silver (1kg) |
|---|---|---|---|
| Delhi | ₹1,28,522 | ₹1,40,308 | ₹1,85,127 |
| mumbai | ₹1,28,339 | ₹1,40,108 | ₹1,85,052 |
| Kolkata | ₹1,28,156 | ₹1,39,908 | ₹1,85,152 |
| Chennai | ₹1,28,600 | ₹1,40,393 | ₹1,85,152 |
| Bengaluru | ₹1,28,513 | ₹1,40,298 | ₹1,85,212 |
| Hyderabad | ₹1,28,568 | ₹1,40,358 | ₹1,85,087 |
Why are gold and silver prices falling?
The stronger US dollar, rising bond yields and higher-than-expected inflation data have contributed to the recent decline in precious metal prices.
According to market experts, hotter-than-expected US inflation has increased expectations of a Federal Reserve rate hike in December. Markets have increasingly factored in the possibility of tighter monetary policy, putting additional pressure on bullion.
Gold, which is traditionally considered a safe-haven investment, tends to lose some of its appeal when interest rates rise because it does not generate interest income.
Silver has also faced pressure amid the broader weakness in precious metals, with its losses on the domestic futures market being sharper than those of gold.
What should investors watch next?
Investors are closely monitoring upcoming US producer price data for further clues about inflation and the Federal Reserve’s interest rate outlook.
A softer inflation reading could help stabilise gold and silver prices, while stronger-than-expected data could extend the recent decline.