With prices as good as 'gold', great time to buy yellow metal

As the market prices of the precious metal are over Rs 8,000 lower than its rate in August, it is a good time for those who have been eager to buy gold. Even though the prices rose marginally on November 26, it is still a great deal.

The gold prices rose by Rs 17 from its previous closing at Rs 48,240 per 10 grams. The rate of yellow metal is Rs 48,257 per 10 grams right now.

The gold price witnessed a record 16th straight session of price increase in November. At that time, gold prices reached an all-time high of Rs 57,008 per 10 grams in the national capital. 

As speculators created fresh positions on firm spot demand, the gold prices rose by Rs 227 to reach Rs 48,740 per 10 grams in futures trade. The gold contracts for December delivery traded higher by 0.47 per cent, which is equal to a Rs 227 increase. It traded at Rs 48,740 per 10 gram in a business turnover of 3,003 lots.

The silver prices have reduced a lot as compared to the listings in August when it had continued its upward trajectory and reached a record worthy high of Rs 77,840 per kilogram. As of now, the silver prices gained a marginal Rs 28 increase to reach the rate of Rs 59,513 on November 26.

When it comes to the international market, gold was trading with gains at USD 1,815 per ounce. At the same time, silver was trading flat at USD 23.42 per ounce.