Gold prices in India hovered near record highs today, tracking firm global rates. On MCX, August gold futures were up about 0.3% to ₹48,450 per 10 gram. Silver rates also edged higher with futures on MCX rising 0.5% to ₹48,600 per kg. Last week, gold prices in India had hit a record high of ₹48,589 per 10 gram. In the previous session, gold had gained 0.8% while silver 0.6%.
In global markets gold prices continued their rally, edging closer to a eight-year high as surging coronavirus cases across the world dented optimism about a quick global recovery. This benefited safe harbours like gold, bonds and the US dollar. Spot gold rose 0.1% to $1,772.61 per ounce. Among other precious metals, platinum rose 0.6% to $796.07 and silver climbed 0.6% at $17.85.
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