Gold, Silver Rates Today (August 6): Gold prices were still firm on Thursday, August 6 likely backed by steady global bullion numbers and that ongoing domestic pull. Silver also moved up following the uptick happening in overseas trading. Investors are paying close attention to what’s happening on the global economic front and the market mood around US monetary policy.
According to the latest retail bullion rates:
Gold, Silver Prices Today (August 5): MCX Updates and City-Wise Gold Rates
Mumbai
Chennai
MCX gold August futures gained 0.06 per cent while MCX silver September futures dipped 1.13 per cent. Currently gold futures stand at Rs 1,41,599, while silver futures stood at Rs 2,17,488 per kg. The price of 10 grams of 24-carat gold was at Rs 1,42,860 on Friday down from Rs 1,44,532 seen on Monday market opening, according to data published by the India Bullion and Jewellers Association (IBJA). According to the news agency IANS report, Gold prices dipped 1.16 per cent on a weekly basis as higher US Treasury yields and a firmer dollar capped safe‑haven demand.
Experts seem to think gold can stay a bit volatile in the near term, since global markets are reacting to these macroeconomic developments. Meanwhile long-term investors keep looking at gold as a hedge against inflation and general economic uncertainty. On the other hand short-term traders are advised to watch MCX closely and also pay attention to international price movements.
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