Gold and silver prices rose on the Universal Commodity Exchange (MCX) on Monday, August 21.
Gold futures, which expire on October 5, 2023, were at Rs 58,458/10 grams on MCX, after posting a slight increase of Rs 83 or 0.14%.
Similarly, silver futures, which expire on September 5, 2025, also gained Rs 290 or 0.41% and traded at Rs 70,525/kg on MCX.
Gold and silver prices were at 58,375 rupees/10 grams and 70,235 rupees/kg respectively when the market closed on August 18.
The price of gold and silver in India depends on several factors, including the value of the rupee against the dollar. Global demand also plays an important role in determining the price trend of precious metals.
GOLD SILVER PRICE IN THE INTERNATIONAL MARKET
Gold prices stabilized above a five-month low on Monday after falling in the previous five sessions, Reuters news agency reported.
According to the latest metals report, spot gold was unchanged at $1,888.36 an ounce by 0124 GMT, while US gold futures rose 0.1% to $1,917.70.
Prices fell to their lowest since mid-March at $1,883.70 last week as outstanding economic data raised the possibility of bets on higher and longer-term US interest rates, dampening demand. unprofitable demand for gold.
As for other metals, spot silver was steady at $22.71 an ounce, and platinum at around $909.57.
