HIGHLIGHTS

• Gold is trading at Rs 47,920 per 10 grams on the MCX.
• Silver is at Rs 68,000 per kg, recording a marginal hike of Rs 212.
• Gold prices have edged higher on the international market.

On August 4, 2021, both gold and silver prices jumped on the Multi Commodity Exchange (MCX). Gold futures maturing on October 5 stand at Rs 47,920 per 10 grams on the MCX, witnessing a hike of Rs 64 or 0.13 per cent.

Meanwhile, silver futures maturing on September 3 are retailing at Rs 68,000 per kg, recording a marginal hike of Rs 212 or 0.31 per cent.

Yesterday, while gold stood at Rs 47,935 per 10 grams on the MCX, silver futures were trading at Rs 67,587, recording a marginal dip of Rs 364 or 0.54 per cent.

Gold and Silver prices on international market:

As per Reuters, gold prices edged higher on Wednesday, helped by a subdued dollar, but the precious metal bobbled in a narrow range as investors awaited signals from U.S. jobs data on the labour market recovery.

Spot gold rose 0.2 per cent to $1,814.27 per ounce by 0303 GMT, while U.S. gold futures were 0.1 per cent higher at $1,816.00.

Jeffrey Halley, the senior market analyst for the Asia Pacific at OANDA, said, “Gold, like the currency markets, appears to be in wait-and-see mode.

He added, “Gold’s price action remains consolidative but structurally positive and I believe that points to further gains ahead. The converging 100- and 200-day moving averages suggest a breakout is coming and I believe Friday’s U.S. data will be a catalyst.”

Indicative of sentiment, holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.2% to 1,027.97 tonnes on Tuesday. Silver gained 0.4 per cent to $25.65 per ounce.

Gold and Silver rates in major cities of India: