Mumbai, July 31: Gold and silver prices rebounded today in Indian markets after a one day pause. On MCX, October gold futures were up 0.83 percent to Rs 53,216 per 10 gram. On the other hand, the silver futures surged Rs 865 to Rs 63,535 per kg.

On Thursday, gold prices slipped, thus marking their first loss in 10 days. On MCX, August gold futures were down to Rs 53,065 per 10 gram. Silver futures on MCX plunged over 2 percent to Rs 63,909 per kg. According to Good Returns, the price of a 10-gram 24-carat gold is Rs 52,110. On, the other hand, customers can buy 24-carat 10 gram gold at Rs 53,130 in Kolkata. India's COVID-19 Tally Crosses 16-Lakh Mark With Highest Single-Day Spike of 55,079 Cases And 779 Deaths in Past 24 Hours.

The rally in the Indian gold market is driven by a rally in global markets. On the other hand, the Sensex traded flat on Wednesday amid volatility. The rise in the coronavirus cases in the country is an area of great concern. The COVID-19 tally crossed 16-lakh mark on Friday as India reported a highest single-day spike of 55,079 positive cases and 779 deaths in the past 24 hours.

(The above story first appeared on LatestLY on Jul 31, 2020 10:48 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).