Gold and silver prices have increased in the country today due to selling in global equities. October gold futures on MCX rose 0.3 percent to Rs 50,911 per ten grams, while silver futures rose 0.23 percent to Rs 67,080 per kg. Before today, gold prices were falling for 3 consecutive days. In the previous session, the futures price of gold had fallen by 0.12 percent per ten grams, while silver had fallen by about 2 percent i.e. Rs 1,300 per kg. Gold prices have remained volatile since August 7, reaching a record high of Rs 56,200.
Gold prices have also increased in global markets as global equities have declined, leading to an increase in safe-haven demand for the yellow metal. The gains have been limited by the strong US dollar. Gold traders are waiting for the release of the US non-farm payroll data for the month of August. Spot gold rose 0.4 percent to $ 1,937.84 an ounce. On Thursday, the head of the Chicago Federal Reserve called on Congress to give more fiscal stimulus and hinted at positive US monetary policy.
Among other precious metals, silver rose 1.1 percent to $ 26.92 an ounce, while platinum rose 0.6 percent to $ 894.97. Let us tell you that the Central Government has given the public an opportunity to buy gold at cheaper rates. Investors can purchase gold under the Sovereign Gold Bond Scheme at a much lower price than the market price. Today is its last day. The government was given up to 5 days to invest in the scheme.
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