Mumbai, August 31: The gold and silver rates increased in the Indian market, following a positive trend in global rates on Monday. On MCX, October gold futures rose 0.3 percent to Rs 51,600 per 10 gram. September silver futures on MCX surged 2 percent to Rs 67,350 per kg.

Talking about the global gold prices, the rates today hit a two-week high, supported by a weak US dollar. Spot gold was up 0.4 percent at $1,971.68 per ounce, after hitting $1,976 in early trade - its highest since August 19.

According to a Good returns report, the price of a 10-gram 24-carat gold is priced at Rs 53,130 in Kolkata. On the other hand, customers will be able to buy the same quantity of 24-carat gold at Rs 51,500 in Mumbai. The price of gold fluctuates on a lot of external factors. Experts are of the view that gold and silver prices are likely to remain volatile but weakness in the dollar index could support the prices.

On the other hand, the rising coronavirus numbers is an area of great concern in the country. The coronavirus tally in India on Monday crossed the 36 lakh mark with a spike of 78,512 new cases and 971 deaths in the past 24 hours. The total COVID-19 tally in the country has mounted to 36,21,246. The death toll due to coronavirus rose to 64,469, the Health Ministry said.

 

(The above story first appeared on LatestLY on Aug 31, 2020 02:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).