Mumbai, August 28: Gold and silver rates increased on Monday. On MCX, October gold futures were up 0.3 percent to Rs 51,071 per 10 gram. While silver futures were up 0.7 percent to Rs 65,673 per kg. Gold rates in India have been very volatile since hitting record highs of Rs 56,200 on August 7.

Spot gold, on the other hand, was up 0.1 pecent at $1,929.94 per ounce falling more than 1 percent in the previous session. US Fed chief Jerome Powell on Thursday outlined an approach to setting US monetary policy that pushed up US bond yields.

According to Good Returns.com, price of 10-gram 24 carat gold in Mumbai was at Rs 51,360. On the other hand, customers have to spend Rs 52,880 to buy a 10-gram gold of 24-carat purity in Kolkata.

(The above story first appeared on LatestLY on Aug 28, 2020 02:06 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).