Gold price rises in India following global cues
- Gold gained ₹69 to trade at ₹46,408 per 10 gram in the national capital on Monday
Gold prices climbed by ₹69 on Monday to trade at ₹47,354 per 10 gram in the futures trade on the Multi Commodity Exchange (MCX).
The precious metal also gained ₹69 to trade at ₹46,408 per 10 gram in the national capital on Monday, keeping in line with firm global cues, according to HDFC Securities. Gold closed at ₹46,339 per 10 gram in the previous trade.
"Gold prices edged higher amid a fall in the dollar and rising fears regarding Covid-19 variants," Motilal Oswal Financial Services vice-president Navneet Damani said. HDFC Securities senior analyst (commodities) Tapan Patel told PTI, "The decline in dollar index boosted buying in gold for the day."
Silver jumped ₹251 to trade at ₹69,035 per kg, in the national capital, marking an increase from the ₹68,784 per kg rate of the day before.
US gold futures rose 0.3% to trade at $1,788.50. Spot gold was up 0.1% at $1,788.60 per ounce, its highest since June 18, when it had traded at $1,794.86, reported Reuters. Other metals like silver rose 0.3% to $26.54 per ounce, palladium climbed 0.2% to $2,791.52, and platinum gained 0.7% to trade at $1,097.15.