After a sharp decline in the last two sessions, the prices of gold and silver have been recorded in the country today. The recovery in global rates has increased the prices of the Indian market. October futures on MCX rose 0.4 percent to Rs 52,345 per ten grams. While silver futures rose by one thousand rupees to Rs 68,579 per kg. In the last two sessions, gold has slipped by Rs 1,500 per ten grams. However, silver has become cheaper by about Rs 1,650 per kg. Gold prices in the country have come down after reaching a record high of Rs 56,191 per ten grams.
Gold prices have increased due to the weak US dollar in global markets. Be aware that a weaker dollar makes the yellow metal cheaper for holders of other currencies. Spot gold was up 0.4 percent at $ 1,949.83 an ounce. Among other precious metals, silver rose 0.6 percent to $ 27.38 an ounce, while platinum rose 0.5 percent to $ 922.24.
After the data of American unemployment claims, the fears of global economic recovery are increasing. The dollar index fell 0.2 percent against its rivals. According to the latest figures of the US Labor Ministry, the number of people applying for unemployment allowance in the US has crossed one million last week. The latest figures show that the economy is weak even after more than 5 months of the corona infection virus outbreak.