HIGHLIGHTS

• Gold is trading at Rs 47,250 per 10 grams on the MCX.
• Silver is retailing at Rs 62,185 per kg, witnessing a jump of Rs 127.
• Both silver and gold are on the higher side of the MCX, today.

On August 20, 2021, both gold and silver are trading on the higher side of the MCX. On the Multi Commodity Exchange (MCX), gold futures maturing on October 5, 2021, stand at Rs 47,250 per 10 grams, recording a hike of Rs 141 or 0.30 per cent.

Meanwhile, silver futures maturing on September 3, 2021, stand at Rs 62,185 per kg, witnessing a jump of Rs 127 or 0.20 per cent on the MCX on Friday.

Yesterday, the market was closed due to Muharram 2021. On Wednesday, while gold observed a dip on the MCX and was retailing at Rs 47,235 per 10 grams, silver was retailing at Rs 63,843 per kg, recording a hike of Rs 189 or 0.30 per cent.

Gold and Silver prices on international market:

As per Reuters, gold prices inched up on Friday, as rising concerns over the spread of the coronavirus Delta variant and its impact on economic recovery soured risk sentiment, but a stronger dollar capped further gains.

Meanwhile, spot gold rose 0.2 per cent to $1,784.07 per ounce by 352 GMT and is up about 0.3 per cent for the week. U.S. gold futures were up 0.3 per cent at $1,786.10.

DailyFX currency strategist Ilya Spivak said, “Risk aversion means that capital is going into the safety of bonds, which is pulling down on yields and so yields haven’t really moved very much and of course that conflicted influence is likewise reflected in gold.”

A stronger dollar makes the greenback-denominated gold more expensive for holders of other currencies. Silver eased 0.1 per cent to $23.22 per ounce and was headed for third straight weekly decline.

Gold and Silver prices in India