Gold Silver Price Today: Yellow metal drops by Rs 2700, Check rates in your city!
On MCX, gold futures rose 0.4 per cent to Rs 47,430 per 10 grams. Talking about silver, it was up 0.35 per cent at Rs 62,941 per kg.
New Delhi: Today on Friday, the futures price of gold and silver increased in the domestic market. On MCX, gold futures rose 0.4 per cent to Rs 47,430 per 10 grams. Talking about silver, it was up 0.35 per cent at Rs 62,941 per kg. In the previous session, gold rose 0.15 and silver was down 0.9 per cent. The yellow metal is still down by Rs 8770 from last year's high (Rs 56,200 per 10 grams).
Gold Price Today:
In the global markets, spot gold prices today rose 0.1 per cent and settled at $1,793.68 an ounce. Among other precious metals, silver held steady at $23.54 an ounce. On the other hand, platinum was up 0.3 per cent at $982.52.
Traders and investors are cautious amid growing concerns about the spread of the delta variant. Uneven global economic recovery and volatility in the rupee against the dollar affect the price of precious metals. Gold ETFs are based on the price of gold. Its price also fluctuates on the fluctuations in the price of the yellow metal. It should be noted that ETF inflows reflect weak investor interest in gold. A stronger dollar makes gold more expensive for holders of other currencies.
Investors Withdrew Rs 61 Crore From Gold ETFs In July:
Investors withdrew over Rs 61 crore from gold ETFs in July. Whereas earlier, gold was being invested in ETFs for seven consecutive months. During this period, investor interest in equities and debt funds has increased due to attractive returns. According to the Association of Mutual Funds in India (Amfi), the number of folios increased to 19.13 lakh in July despite negative inflows in this category. Investments in ETFs have steadily increased since August 2019, with the exception of February 2020, December 2020 and July 2021.
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