Weak global cues triggered a notable downturn in domestic futures for gold and silver after a minor recovery during the preceding session, causing the December 4 expiry MCX Gold to plunge Rs 1,500 down to a low of Rs 1,38,678 per 10 grams relative to its previous close of Rs 1,40,186, while the December expiry MCX Silver slumped Rs 5,667 to a low of Rs 1,78,112 per kilogram from the last session’s close of Rs 1,83,779, with recent figures indicating MCX Gold trading at 1,38,716 down Rs 1,470 (1.05 per cent) and MCX Silver quoted at Rs 1,78,557 down Rs 5,222 (2.84 per cent). According to Ponmudi R, CEO of Enrich Money, MCX Gold is reflecting the downward trajectory of COMEX Gold while managing to stay relatively stronger than MCX Silver, and a resilient rupee hovering near 94.70 continues to temper domestic price reactions to international fluctuations after closing at 94.89 amid persistent dollar strength. On the global front, gold slipped past $4,000 per ounce as COMEX Gold December contract traded at $3,929 per ounce after a loss of $40.60 or 1.20 per cent, and COMEX Silver stood at $49.295 down $1.5 or 3.13 per cent, which naturally influenced the domestic retail segment where bullion.co.in reported 24-karat gold at Rs 1,39,330 per 10 grams and 22-karat gold at Rs 1,27,719 per 10 grams
