Mumbai: Gold prices traded higher in the commodity market. But the rise in US yields supported by inflation fears has capped the gain of the yellow metal.
On the Multi Commodity Exchange (MCX), the gold futures gained by 0.29% or Rs 94 to Rs 47,810 per 10 gram. Silver futures shed 0.05% or Rs 28 at Rs 61,713 per kg. According to the Indian Bullion and Jewellers Association, the price of highest purity gold is at Rs 48,333 per 10 gram. Spot silver is priced at Rs 62,255 per kg.
In the international market, price of spot gold rose 0.3% to $ 1,806.20 per ounce. US gold futures were up 0.2% to $ 1,804.50. Among other precious metals, silver rose 0.3% to $ 22.92 an ounce, platinum was up 0.3% to $ 957.49, and palladium gained 1% to $ 1,843.18.