Gold and silver prices remained weak today in Indian markets amid lacklustre global cues. On MCX, gold futures were flat at ₹48,076 per 10 gram while silver dropped 0.4% to to ₹68,00 per kg. In the previous session, gold had dropped ₹400 per 10 gram.
Gold prices today were also flat in global markets, supported by a retreat in US bond yields and concerns that a surge in Delta variant of coronavirus cases could hurt global economic recovery. Spot gold was up 0.1% at $1,812.83 per ounce after falling nearly 1% on Friday. Among other precious metals, silver fell 0.6% to $25.50 per ounce while platinum eased 0.2% to $1,100.55.
Weak equity markets also supported gold though a stronger US dollar capped gold’s gains. Most Asian markets were lower today following a weak Wall Street close on Friday as risk sentiment remained weak amid growing inflationary pressures and surge in coronavirus cases.
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