Gold prices rose by ₹1,400 and silver by ₹4,000 on MCX today. Find out the latest gold and silver rates today.

Gold Silver Rate Today: Latest price of gold and silver today

Gold and silver prices rose on Monday, November 9. Gold prices on the MCX rose by nearly ₹1,400 per 10 grams, while silver prices rose by ₹4,000 per kg. Precious metals were supported today by softening crude oil prices and a weak dollar.

However, despite the market rally, investors are still wondering: should they buy gold and silver now, or would it be better to wait a few days? Let's find the answer to this question here, along with today's current rates.

What are the prices of gold and silver today?
On Monday, gold rose by ₹1,400 to ₹1,43,933 per 10 grams on the MCX. Silver, meanwhile, rose by ₹4,000 to trade at ₹1,88,979 per kg.

Internationally, prices of both metals also rose. Spot gold rose about 1.6 percent to $4,129.69 per ounce. Silver, meanwhile, gained about 2.8 percent to $53.31 per ounce.

How did the drop in oil prices affect gold?
The biggest reason behind the rise in gold and silver prices is the softening of crude oil prices. When crude oil is expensive, there is a fear of rising inflation. In such a situation, the US Federal Reserve may keep interest rates high or even increase them. High interest rates reduce investors' investment in gold, as gold does not pay any interest.

However, falling oil prices have raised hopes of easing inflationary pressures. Additionally, the dollar has weakened, making gold cheaper for buyers in other countries. Both these factors have supported gold and silver