Aday after trading on the lower side of the Multi Commodity Exchange (MCX), the prices of gold and silver witnessed a jump on September 29, 2021.

Today, gold futures, maturing on October 5, 2021, are retailing at Rs 45,963 per 10 grams with a slight jump of 0.14 per cent or Rs 65. Witnessing a hike of 0.11 per cent or Rs 65, the rate of silver futures traded at Rs 60,555 per kg on the MCX today.

On Tuesday, both the metals registered a dip on the MCX. Gold stood at Rs 46,071 per 10 grams, while silver traded at Rs 60,572 per kg with a dip of 0.23 per cent or Rs 138. The prices of gold and silver stood at Rs 45,853 and Rs 60,464 respectively, when the market closed on September 28, 2021.

Gold and Silver prices on international market:

Globally, gold prices remained flat on Wednesday after hovering near a seven-week low due to a rise in the dollar, reported news agency Reuters. On the other hand, spot gold was also flat at $1,735.17 per ounce after its price fell to its lowest since August 11 to $1,726.19 on Tuesday. There was a little change in U.S. gold futures and it traded at $1,735.90, according to reports.

Fed Chair Jerome Powell was quoted by Reuters as saying that the U.S. economy still has a long way to go to achieve maximum employment. The upward trend in the Covid-19 cases is still a cause of concern for the economy and the confidence of U.S. consumers fell to a seven-month low in September.

The world’s largest gold-backed exchange-traded fund, holdings of SPDR Gold Trust, fell to 990.03 tonnes against 990.32 tonnes. Meanwhile, silver ticked upwards by 0.1 per cent to $22.46 per ounce and platinum eased 0.1 per cent to $966.03 on the global front.

Gold and Silver prices in major Indian cities