Gold Futures Rises 0.4% On MCX, Silver Trades Marginally Lower


Silver futures prices for delivery in in July dropped as much as 0.31 per cent.

Gold, Silver Price Today: Gold futures contracts for delivery in June rose as much as 0.36 per cent to hit an intraday high of Rs 47,770 on the Multi Commodity Exchange (MCX). In the spot market 24 carat gold also known as fine gold was sold at Rs 46,999 per 10 gram, according to India Bullion and Jewellers Association (IBJA). Gold with 22 carat purity was sold at Rs 45,390 per 10 gram, 18 carat gold was retailed at Rs 37,590 and 14 carat gold was priced at Rs 31,250 per 10 gram, IBJA noted on its website.

In the international markets, gold prices on Friday hovered near a 2-1/2-month high and were on track for their best week in five months, aided by a weaker dollar and a pullback in Treasury yields as investors cautiously await U.S. non-farm payrolls report due later in the day.

Spot gold was steady at $1,815.88 per ounce by 8:15 am, after hitting its highest since February 16 at $1,817.90 in the previous session. Bullion is up more than 2.5 per cent so far this week.

US gold futures were little changed at $1,816.40.

Lower bond yields generally reduce the opportunity cost of holding non-interest bearing gold.

Back home, silver futures prices for delivery in in July dropped as much as 0.31 per cent to hit an intraday low of Rs 71,454 per kilogram. In the spot market, silver was sold at Rs 68,835 per kilogram, according to IBJA.

In international markets, silver gained 0.3 per cent to $27.26 per ounce and was up more than 5 per cent this week. Platinum was steady at $1,252.24.

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