Gold and silver prices rose today in Indian markets due to positive trend in global markets. October gold futures on MCX rose 0.3% to 51,600 per 10 grams. Silver futures on MCX rose 2% to 67,350 per kg. In the previous session, gold had increased by 500 per 10 grams while silver had increased by about 1,000 per kg.
In global markets, gold prices today held a two-week high in support of a weaker US dollar. Spot gold rose 0.4% to $ 1,971.68 an ounce, the highest level since August 19, after rising $ 1,976 in early trade. US gold futures rose 0.4% to $ 1,982.50.
Among other precious metals, silver rose 1.7% to $ 27.94 an ounce while platinum rose 0.4% to $ 935.06.
In India, the latest installment of Sovereign Gold Bond opens for membership today. The Reserve Bank of India, which issues bonds on behalf of the government, has fixed the issue price at 5,117 per gram. Those applying online and paying online get a discount of 50 per gram.