Gold Price Surges ₹650 in Two Days

9 Aug 2024 , 11:55 AM

Gold October futures contracts at the MCX opened flat on Friday at ₹69,612 per 10 gramme, down 0.13% or ₹92, while silver September futures contracts were trading at ₹80,660/kg, up 0.06% or ₹47.

Gold prices have risen by ₹650/10 gm in the previous two days, despite a drop in US jobless claims, strength in the dollar index, and rising US bond yields, while silver has risen by roughly ₹1,800/kg.

On Thursday, gold and silver closed on a strong note in both the domestic and international markets. The gold October futures contract finished at ₹69,704 per 10 grammes, up 1.07%, while the silver September futures contract settled at ₹80,613 a kilogramme, up 2.17%.

Gold and silver rose despite a drop in US jobless claims, gains in the dollar index, and rising US bond yields. US jobless claims declined to 2,33,000 in the last week, compared to predicted claims of 2,41,000 and far lower than the prior week’s claims of 2,49,000.

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