Yellow metal prices on Wednesday rose on the MCX to trade at Rs 47,258 per 10 grams, as gold future rates were up by Rs 52 from the previous close of Rs 47,206 per 10 grams.
Silver futures also witnessed a rise of Rs 152 per kg to reach Rs 63,655 per kg. They had stood at Rs 63,503 per kg.
The gold spot price today was Rs 47,440, which went up by Rs 52 from the previous close of Rs 47,388.
Global yellow metal spot prices also witnessed a growth of $3.25 to reach $1816.7 value today.
“COMEX gold trades marginally higher near $1790 per ounce after a 0.1 per cent decline yesterday. Gold is choppy amid mixed US economic data and mixed comments from Fed officials which have added to uncertainty about Fed’s monetary policy. Support from safe haven buying amid rising virus cases, slowdown in China and geopolitical tensions relating to Afghanistan is countered by weaker investor interest amid continuing strength in equities. Gold may remain choppy amid uncertainty about Fed’s monetary policy however increasing global uncertainty may keep prices supported,” said Ravindra Rao, Head of Commodity Research, Kotak Securities.