Gold prices today rise for 3rd day in a row but down ₹4000 from record highs
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Gold and silver prices in Indian markets moved higher today amid steady global rates. On MCX, October gold futures rose 0.7% to regain ₹52,000 levels per 10 gram, extending gains to the third day. Silver futures on MCX jumped 1.2% to ₹71,300 per kg. In the previous session, gold had risen ₹300 per 10 gram while silver had jumped ₹1,800 per kg. Though gold has bounced back from recent lows, it is still down ₹4,000 from August 7 highs of ₹56,200 per 10 gram.
In global markets, gold prices remained almost unchanged at near two-week high, supported by a weak US dollar. Spot gold was steady at $1,968.98 per ounce. The dollar index fell to a near two-year low at 91.81 against a basket of other currencies, making gold less expensive for holders of other currencies.
Among other precious metals, silver fell 0.2% to $28.17 per ounce, platinum rose 0.3% to $931.87, and palladium dropped 0.3% to $2,235.64.
