Gold and Silver Prices Today: Gold and silver prices rallied on Friday, reflecting the yellow metal’s rally in international markets after gold prices topped $ 1,900 an ounce on Friday, helped by a pullback in the dollar and lower bond yields after data on rising inflation were released in The US is inadequate to change the Federal Reserve’s loose monetary policy. Gold futures on the Multi-Commodity Exchange (MCX) for August 5 delivery rose 0.3% to Rs 49,346.
In the spot market, 24-carat pure gold was sold at Rs 48,750 per 10 grams, the Indian Jewelery and Jewelers Association (IBJA) reported on Twitter microblogging. Gold with a purity of 22 carats retailed at Rs 47,090 per 10 grams, 18-karat gold sold for Rs 39,000 and 14-carat gold sold for Rs 32,420, IBJA reported on Twitter.
On the international market, spot gold rose 0.1% to $ 1,900.51 an ounce as of 8:43 am. Prices are up more than 0.5 percent this week.
US gold futures rose 0.3% to $ 1,902.90 an ounce.
Data showed that US consumer prices rose steadily in May, resulting in the largest annual growth in nearly 13 years, while the number of weekly jobless claims fell to their lowest level in nearly 15 months last week.
At home, silver prices also posted gains as silver futures for July 5 delivery rose 0.7% to an intraday high of Rs 72,475 per kilogram. Silver traded at Rs 71,224 per kilogram on the spot market, according to IBJA.