On Tuesday, gold and silver prices in India were seen trading higher, with August gold contracts on the Multi-Commodity Exchange (MCX) trading 0.27 percent higher at 49,483 per 10 grams. Gold was up 0.54 percent, or around 453.1 per 10 gramme, in the previous session. In the previous session, gold futures had closed at 49,349 per 10 grams.
July silver futures, on the other hand, were up 0.93 percent at 72,565 per kg on Tuesday. In the previous session, silver had settled at 71,898 per kilogramme.
The price of platinum, among other precious metals, has risen. The price of platinum increased by 0.38 percent to $1195.0 per Troy ounce. According to news reports, the price of 24k gold in the Indian spot market was quoted at 47,710 rupees.
The current gold and silver rates in India are set against a positive international trend in these metals’ prices, which are continuing to rise. The price of spot gold increased 0.32 percent to $1911.9 per Troy ounce. This price is 9.01 percent higher than the average gold price over the previous 30 days ($1739.7). Today’s precious metals and silver prices increased slightly. Silver increased by 0.67 percent to $28.2 per troy ounce.
On the back of coronavirus disease (Covid-19) vaccinations and expectations of more stimulus, analysts say a weaker US dollar and inflation fears have contributed to a surge in gold prices in the international market.
