Crescent Kashmir

Gold Price Today: Yellow Metal, Silver Rise Slightly

Decrease Font Size Increase Font Size Text Size Print This Page

Yellow metal prices went up slightly on the Multi Commodity Exchange (MCX), as gold October futures rose to ₹ 47,929 per 10 gram, up from the previous close of ₹ 47,916.

Silver September futures also rose as they went up by ₹ 86 to reach ₹ 68,000 per kg. In the previous session, silver had ended at ₹ 67,914 per kg.

At the international level, gold prices were also slightly higher as investors await indications from the US jobs data on the labour market recovery.

Spot gold rose 0.2 per cent to $1,814.27 per ounce, while US gold futures were 0.1 per cent up at $1,816.00.

Commenting on the gold trends, Head of Commodity Research at Kotak Securities, Ravindra Rao said, “COMEX gold trades marginally higher near $1816 per ounce after a 0.4 per cent decline yesterday. Gold has continued to trade in a range above $1800 per ounce amid choppiness in equities and US dollar and uncertainty ahead of the US jobs report. However, supporting prices are rising virus cases, concerns about Chinese economy and uneven economic recovery. ETF outflows however show weaker investor interest. Gold may remain choppy along with equities however rising concerns about China and virus spread may keep prices supported.”

Leave a Reply

Your email address will not be published. Required fields are marked *