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Commodity Market: Gold price edges higher

Mumbai: The price of gold edged higher in the commodity market. As per the market experts, the concerns over the Omicron Covid-19 variant has supported the safe-haven appeal of gold among investors.

On the Multi Commodity Exchange (MCX), the gold futures surged by Rs 176 or 0.37% to Rs 48,136 per 10 grams. Silver futures gained by Rs 620 or 0.98% to Rs 63,585 per kilogram.

Also Read: Forex Market: Indian rupee depreciates against US dollar, UAE dirham

As per the Indian Bullion and Jewellers Association, spot gold is trading at Rs 48,466 per 10 grams and silver is priced at Rs 63,612 per kilogram.

In the international market, spot gold is priced at $ 1793.72 per ounce, up by 0.1%. US gold futures gained by 0.4% to $ 1793.2 per ounce. Among other precious metals, silver rose 1.1% to $ 23.38 per ounce platinum gained 2.3% to $ 976.01 and palladium was up 2.7% at $ 1,794.69.

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