HIGHLIGHTS

• Gold is trading at Rs 47,433 per 10 grams on the MCX.
• Silver is retailing at Rs 65,377 per kg on the MCX today.
• Both the precious metals recorded a jump on Friday, last week.

The rates for gold and silver have changed on the Multi Commodity Exchange (MCX). Witnessing the downfall of Rs 75 or 0.16 per cent, gold futures, maturing on October 5, 2021, are trading at Rs 47,433 per 10 grams on September 6, 2021.

Meanwhile, silver futures, maturing on December 3, 2021, stand at Rs 65,377 per kg on the MCX. Silver has recorded a marginal hike of Rs 66 or 0.10 per cent.

Last Friday, both metals were trading on the higher side. While gold stood at Rs 47,095 per 10 grams on the MCX on September 3, 2021, silver was at Rs 63,389 per kg, recording a jump of Rs 79 or 0.12 per cent.

Gold and Silver prices on international market:

As per Reuters, gold prices held steady near a 2-1/2-month peak on Monday after disappointing U.S. jobs data raised hopes the Federal Reserve could wait a bit longer to pare stimulus measures, bolstering bullion’s appeal as an inflation hedge.

Meanwhile, spot gold was steady at $1,826.82 per ounce as of 0333 GMT. In the last session, prices hit their highest since June 16 at $1,833.80.

According to the report, U.S. gold futures eased 0.2 per cent to $1,829.50.

Gold is being supported by the notion that the Fed will be slower to taper than previously thought, and a weak U.S. dollar, said IG Market analyst Kyle Rodda.

Some investors view gold as a hedge against inflation that may follow stimulus measures, while lower interest rates reduce the opportunity cost of holding non-yielding bullion.

The metal report revealed that silver had risen 0.1 per cent to $24.72 per ounce. Prices rose 3.4 per cent in the previous session, its biggest one-day percentage gain since early May.

Gold and Silver prices in India: