On the first trading day of the week i.e. on August 17, the prices of gold and silver rose in both the international and Indian domestic markets. Last week there were continuous fluctuations in the prices of both the precious metals. The prices of both the metals rose in the bullion market on Monday morning.
Along with gold, the price of silver has also increased in the international market. Both metals are also trading at higher levels on India’s futures market Multi Commodity Exchange (MCX).
Gold prices rose on the international commodity market Comex on Monday morning. According to available market data, at around 9 am, gold was trading around $ 4,446.70 an ounce, up 0.21 per cent.
An increase in the price of silver was also seen in the international market. On Comex, silver was trading around $ 65.720 an ounce with a rise of 0.94 percent.
Along with investment demand, industrial use also affects the price of silver. Since silver is consumed in solar panels, electronics and other industries, changes in global industrial demand can affect its price.
Gold prices also rose in India’s domestic futures market. Till the time of writing the news on Multi Commodity Exchange (MCX), gold was trading at Rs 1,54,909 per 10 grams, up by Rs 403.
An increase in silver prices was also seen on MCX. At around 9 am, the price of silver increased by Rs 1,917 to Rs 2,37,841 per kg. On percentage basis, silver prices rose more than gold in early trade.