New Delhi: Gold and silver prices were trading higher in India on Tuesday, on the back of positive international trends, where gold surged to a near five-month high of $1,914.26 on a weaker US dollar and inflation concerns. Gold today were up by 0.52 per cent to Rs 50,300 for 10 grams for 24 carat gold.
On Multi Commodity Exchange, gold August futures were trading Rs 134 or 0.23 per cent up at Rs 49,484 per 10 gram, as against the previous close of Rs 49,349. Silver July futures were ruling at Rs 72,668 per kg, up Rs 800 or one per cent on MCX. Silver futures ended at Rs 71,898 pe kg in the previous session. Globally, spot gold was up 0.2 per cent at $1,911.45 per ounce.
The dollar index was down 0.26% against its rivals at 89.757. Among other precious metals, silver gained 0.6 per cent to $28.22 per ounce while platinum climbed 0.5 per cent to $1,192.22. In the international market, gold prices climbed to a new high on Tuesday driven by a weaker dollar and growing inflationary pressures.
Spot gold was up 0.4% at $1,915.01 per ounce by 0636 GMT for the first time in nearly five months. US gold futures rose 0.6% to $1,917.20. The dollar index was down 0.3% against its rivals, making gold less expensive for other currency holders.
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