Gold and silver futures break the downward trend to trade higher on the MCX.
The Gold futures on Friday morning at 9:30 am IST were trading higher at Rs 58,406 up by Rs 116 per 10 grams, whereas silver futures expiring in September were trading flat at Rs 70,428 per kilogram with a gain of Rs 410.
The price of gold and silver on the morning of August 18 were at Rs 54,100 per 10 grams and Rs 72,500 per kg respectively, according to GoodReturns.
Gold price today
In Mumbai, Kolkata, Kerala, Bangalore and Hyderabad, 10 grams of 22-carat gold is at Rs 54,100 and 24-carat gold at Rs 59,020.
In Delhi and Chennai, 10 grams of 22-carat gold is at Rs 54,250 and Rs 54,560, respectively.
In Delhi and Chennai, 10 grams of 24-carat gold is at Rs 59,170 and Rs 59,520, respectively.
Silver price today
In Mumbai, Kolkata and Delhi, the price of 1 kg of silver is Rs 72,500.
In Chennai, Hyderabad and Kerala the price is at Rs 75,700.
US Gold prices slip to 5-month low
On the other hand US gold prices have slipped to five-month low due to rising treasury yields, Federal Reserve officials hawkish stance on interest rates and a firm dollar. Spot gold was down to $1,886.10 per ounce with a drop of 0.3 per cent, this is the lowest level since March 13. US gold futures were also lower at $1,915.20 with a dip of 0.7 per cent.
However silver saw its biggest daily gain since July 31 on Thursday after it rose 1.1 per cent to $22.64 per ounce, while palladium gained 0.4 per cent at $1,213.76 and platinum jumped 1 per cent at $890.81.
