US gold futures rose 0.3% to trade at $1,788.50
US gold futures rose 0.3% to trade at $1,788.50

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
By hindustantimes.com | Written by Ayshee Bhaduri | Edited by Meenakshi Ray, Hindustan Times, New Delhi
PUBLISHED ON JUL 05, 2021 05:09 PM IST

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.

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