Under pressure from the global market, gold and silver prices are seeing a rise today. After the fall of gold prices in the last 3 sessions, today has risen from the very beginning. Gold has once again reached close to 51,000, while silver is above 62,000. At the Multimoditive Exchange (MCX), gold futures of 24-carat purity rose 60 rupees, to 50,931 rupees per 10 grams this morning. Earlier, the price of gold opened at 50,952 and demand showed an improvement. Due to this, the price of gold saw a rise of 0.12 percent from the previous price. Gold prices had fallen in four sessions this week, but today it has gained momentum following cues from the global market.
On the lines of gold, today the futures prices of silver have also increased. Silver futures rose 319 rupees, to 62,112 rupees per kilo in the morning on the MCX. Earlier, silver opened at a price of Rs 61,980 and the trading began. With the increase in demand, its prices soon rose and it jumped 0.54 per cent to over 62,000. Silver was also witnessing a decline for the past few sessions.
The global market is also witnessing an increase in the prices of gold and silver today. In the US market, gold gained 0.07 per cent to $1,854.19 per ounce in the morning, while silver's spot price was $22.1 per ounce. It is seeing an increase of 0.37 percent. The global market was also witnessing a decline in the prices of gold and silver for the past few sessions.