Gold prices today remain flat, down ₹5,000 from last month’s highs
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Five hundred gram silver bars sit next to one thousand gram gold bars in an arranged photograph at the Istanbul Gold Refinery in Istanbul, Turkey, on Thursday, May 12, 2011. Both the precious metals, silver and gold, rose today on stockists buying for the ongoing marriage season, amid a firming global trend. Photographer: Kerem Uzel/Bloomberg via Getty Images
Gold and silver prices in India edged higher but the gains remained muted. On MCX, gold futures rose 0.07% to ₹51,440 per 10 gram while silver gained 0.41% to ₹68,725 per kg. Gold prices in India have been stuck in a narrow range over the past few days. In the previous session, gold futures had risen 0.07% on MCX while silver had slipped 0.12%. Gold is now down about ₹5,000 per kg from record highs of about ₹56,200, hit last month.
Similarly, silver prices are now down more than ₹10,000 per kg in about a month.
In global markets, gold prices moved higher, supported by a weaker US dollar and concerns that a coronavirus vaccine could get delayed. Spot gold rose 0.7% to $1,945.20 per ounce.
Among other precious metals, platinum jumped 1.8% to $917.32 an ounce after World Platinum Investment Council forecast a deficit in supply this year, from earlier projection of surplus. Silver rose 0.7% to $26.88.
