Gold And Silver Prices: Precious Metal Rates Jump On MCX

Gold And Silver Prices: After witnessing a hike on Friday, both gold and silver prices again jumped on the Multi Commodity Exchange (MCX) on Monday. With a marginal jump of Rs 40 or 0.08 per cent, gold prices maturing on August 5 stand at Rs 47,349 per 10 grams on July 5, 2021.

Gold And Silver Prices

Meanwhile, silver futures maturing on September 3 are also trading on the green side and stand at Rs 70,445 per kg with a hike of Rs 262 or 0.37 per cent on the MCX. On Friday, both precious metals recorded a marginal jump on the market. While gold stood at Rs 47,139 per 10 grams, recording a hike of Rs 161 or 0.34 per cent, silver was trading higher at Rs 69,224 per kg.

In India, last week, gold was being sold at a premium for the first time in more than two months. Gold demand gained traction after restrictions to combat the second wave of coronavirus were slightly relaxed.

According to Reuters, after hitting a two-week high in the last session, gold prices on Monday went down because of a slight uptick in the dollar. The dollar ticked up by 0.1 per cent against its rivals, making gold expensive for holders of other currencies.

After reaching its highest since June 18 at $1,794.86 on Friday, spot gold was down by 0.1 per cent to $1,785.41 per ounce by 0037 GMT. Meanwhile, U.S. gold futures rose by 0.1 per cent to $1,785.20. In addition to this, silver prices fell by 0.2 per cent to $26.40 per ounce, palladium gained 0.3 per cent to $2,793.19 and platinum shed 0.3 per cent to $1,086.49.

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