Gold and silver prices in India reached a high today after a sharp decline in the previous session. Gold futures on MCX rose 0.46% to 55,040 per 10 grams. Silver futures traded up 1.43% at 75,220 per kg. In the previous session, gold slipped by 1,000 per 10 grams, while silver became cheaper by about 1,600 per kg. Gold prices in India are over 40% so far this year.
The price of 22-carat gold rose to Rs 54,360 per 10 grams in New Delhi and Rs 53,810 in Chennai. In Mumbai, according to the Good Returns website, the rate was Rs 54,260. The price of 24-carat gold in Chennai was Rs 58,700 per 10 grams.
In the global market, gold prices were stable today after a fall in the previous session. Spot gold stood at $ 2,033.40 an ounce. The precious metal fell 1.5% after reaching a record high of $ 2,072 amid a surge in the US dollar in the previous session.
Silver was down 0.1% to $ 28.28 an ounce in other precious metals, while platinum gained 0.9% to close at $ 970.12.