Today, gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX), for the fifth day in a row. Witnessing a jump of 0.29 per cent or Rs 139, gold futures, maturing on December 3, 2021, are retailing at Rs 47,555 per 10 grams on the MCX today. The rate of silver futures, maturing on December 3, 2021, stands at Rs 65,330 per kg with a hike of 0.35 per cent or Rs 228.

On Thursday, the rate of gold stood at Rs 47,529 per 10 grams with a hike of 0.13 per cent or Rs 61. Silver traded at Rs 65,781 per kg with a jump of 0.29 per cent or Rs 193. The prices of gold and silver stood at Rs 47,404 and Rs 65,013 respectively, when the market closed on October 21, 2021.

Gold and silver prices in international market

As per the report by Reuters, gold prices went up and are poised for a second weekly gain on Friday on the global front. Gold inched higher as a softer dollar provided some relief against higher U.S. bond yields and increased expectations that central banks could start easing economic support.

Meanwhile, spot gold edged 0.1 per cent higher to $1,785.00 per ounce and U.S. gold futures rose 0.2 per cent higher to $1,786.00, as per the reports. On the other hand, bullion prices, which were en route to the second week of gains, have traded in a broad $1,749-$1,800 range so far in October.

Fed Governor Christopher Waller was quoted by Reuters as saying that the U.S. Federal Reserve should allow its $8 trillion balance sheet to shrink over the next couple of years.

In the international market, spot silver was up 0.2 per cent to $24.18 an ounce and platinum rose 0.5 per cent at $1,053.80 per ounce.

Gold and Silver prices in Indian cities: