New Delhi: Gold prices have started rising during the festive season. Gold prices have registered a spurt on Thursday from positive global signals. On the Multi Commodity Exchange (MCX), December futures gold prices rose by Rs 55 per 10 grams on Thursday. Silver rose 137 rupees per kilogram in December futures. Globally, yellow metal prices have picked up. The dollar softened gold prices in the third session.
Spot gold gained 0.2 per cent to $1,784.96 an ounce. U.S. gold futures had closed marginally at $1,784.60 with a slight revision. The boom in the global stock market has also had an impact on gold prices. at that very place. Gold's performance against silver was weaker as cryptocurrency Bitcoin surged sharply. On Thursday, December futures gold rose 55 rupees, to 47,554 rupees per 10 grams on MCX. While silver, a kilogram of December futures, gained 137 rupees, to 65,744 rupees.
Tapan Patel, senior analyst (commodities) at HDFC Securities, said gold prices have surged due to weak dollars even after the rise in US bond yields. Gold prices have surged due to inflation concerns and renewed concerns from China's Evergrande loan crisis.