Gold and silver prices rose on the commodity exchange (MCX) on Monday, August 28.
Gold futures for October 5, 2023, were settled at Rs 10 per gram on the MCX. 58,765, or up Rs 125 or 0.21 per cent after a slight rise.
Similarly, silver futures for September 5, 2023 were trading at Rs 99, up 0.13 per cent, at Rs 73,648/kg on the MCX.
Gold and silver prices closed at Rs 58,640 and Rs 73,549 per 10 grams on August 25.
The price of gold and silver in India depends on many factors, including the value of the rupee against the dollar. Global demand also plays an important role in the price of precious metals.
Despite U.S. Federal Reserve Chairman Jerome Powell’s dovish stance on interest rates, gold rose on Monday as markets awaited weekly economic data to confirm the direction of the interest rate path, Reuters reports.
Spot gold was up 0.1% at $1,916.19 an ounce by 03:54 GMT, while U.S. gold futures were up 0.2% at $1,943.90, according to the latest metals report.
Among other metals, spot silver fell 0.2% to $24.17 and platinum fell 0.1% to $943.64. Palladium rose 0.8% to $1,233.74.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
