Gold Prices Slip Marginally, Silver Trades Higher

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In spot market, fine gold with purity of 24 carats was sold at Rs 47,210 per 10 grams.

Gold, Silver Price Today: Gold and silver prices were trading on a mixed note on Friday. Gold futures for delivery on August 5 on Multi Commodity Exchange (MCX) slipped as much as 0.07 per cent to Rs 46,836. In spot market, fine gold with purity of 24 carats was sold at Rs 47,210 per 10 grams, 22 carat gold was priced at Rs 45,610 per 10 grams, 18 carat gold was retailed at Rs 37,770 per 10 grams and 14 carat gold was priced at Rs 31,400 per 10 grams, India Bullion & Jewellers Association (IBJA) said on microblogging site Twitter.

Overnight, gold price in international markets languished on Thursday as investors tried to grasp mixed signals from U.S. Federal Reserve officials on interest rate hikes and awaited more economic data to gauge inflationary pressures.

Spot gold was up 0.11 per cent at $1,777.07 an ounce.

“COMEX gold trades marginally higher near $1779/oz after a 0.4% decline yesterday. Gold is range bound amid mixed US economic data and mixed Fed comments which has caused uncertainty about Fed’s monetary policy stance. ETF outflows show weaker investor interest while supporting price is rising inflation concerns. Gold may remain choppy along with US dollar however general bias remains weak owing to Fed’s monetary tightening outlook,” said Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities.

Meanwhile, silver futures for delivery on July 5 rose 0.1 per cent to Rs 67,800 per kilogram. In spot market, silver was priced at Rs 68,123 per kilogram.



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