New Delhi: Gold futures are trading flat in the domestic market today ahead of the release of US inflation figures. Gold futures for August delivery rose 41 rupees (0.09 per cent) to 46,911 rupees per 10 grams on MCX. It closed at 468.70 on the previous trading day.

On the other hand, silver for July delivery rose 0.24 per cent (Rs 161) to Rs 67,894 per kg. 67,733 per kg in the last session. Gold is down about 9,000 rupees from last year's high (Rs 56,200 per 10 grams). Gold rose 1,773.52 dollars an ounce in global markets today. It grew 0.6 per cent this week. Us gold futures lost 0.2 per cent to 1,773.60, according to Reuters.

Gold imports rose 22.58 per cent to $34.6 billion, or Rs 2.54 lakh crore, in fy 2020-21. The import of gold affects the current account deficit (CAD). According to commerce ministry data, gold prices have risen as domestic demand has increased. Silver imports fell 71 per cent to $79.1 million during the fiscal. This led to a gold import of $28.23 billion in the previous fiscal 2019-20. Even after the increase in gold imports, the country's trade deficit declined to $98.56 billion in the previous fiscal.

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