HIGHLIGHTS

• Gold futures stand at Rs 46,448 per 10 grams on Friday.
• Silver is trading at Rs 62,040 on the MCX.
• Internationally, gold prices edged higher on Friday.

Both gold and silver are trading on the higher side of the Multi Commodity Exchange(MCX) on August 13, 2021. Recording a jump of 0.18 per cent or Rs 85, gold futures maturing on October 5, 2021, stand at Rs 46,448 per 10 grams on Friday. Meanwhile, silver futures maturing on September 3, 2021, are retailing at Rs 62,040, witnessing a marginal hike of Rs 180 or 0.29 per cent.

Yesterday, gold and silver were trading on the lower side of the MCX. While gold stood at Rs 46,300 per 10 grams, silver was retailing at Rs 62,528 per kg, recording a marginal dip of Rs 252 or 0.40 per cent.

Gold and Silver prices on International market:

As per Reuters, gold prices edged higher on Friday, underpinned by concerns over the rapid spread of the Delta coronavirus variant, although a resilient dollar capped gains and kept bullion on track for its second straight weekly decline.

Meanwhile, spot gold rose 0.2 per cent to $1,755.30 per ounce by 0339 GMT. It is down 0.4 per cent so far for the week. U.S. gold futures were up by 0.3 per cent at $1,756.30.

Michael Langford, director at corporate advisory AirGuide, said, “The ongoing COVID disruption means it is more likely that central banks globally will continue to provide stimulus, which ultimately feeds back into inflation and higher gold prices in the long term.”

“In the short-term, expect gold to hold between $1,750- $1,800,” added Langford. Also, the dollar held firm near four-month highs, after data showed U.S. producer prices posted their largest annual increase in more than a decade.

Silver rose 0.4 per cent to $23.25 per ounce but was down over 4% for the week.

Gold and Silver prices in major Indian cities