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24-carat gold was seen with a slight increase of Rs 61 at Rs 50,470 per 10 grams
Photo Credit : Reuters
After the huge fall in the prices of gold and silver on Thursday, the price of both precious metals saw a rise on the last trading day of the week. On the other hand, the four-day decline in the US market was restrained and it saw an uptick. Its effect was also seen on the Indian stock market.
Amidst the signs of recession, the US market was seeing a decline for the last few days. On Friday, both bullion market and MCX market saw a rise.
In the bullion market, there was a rise in the price of gold and silver today. According to the rate issued by the India Bullion Association, silver rose by Rs 360 per kg to Rs 52,382 on Friday compared to Thursday. Similarly, 24-carat gold was seen with a slight increase of Rs 61 at Rs 50,470 per 10 grams.
Gold is moving at one and a half month old level. On July 15, the rate of gold was at Rs 50,403 per 10 grams. At the same time, silver is running at the lowest level of two years. In the domestic market, gold on MCX was trading up by Rs 161 in the afternoon at Rs 5,0231 per 10 grams. Silver for December delivery was trading with a gain of Rs 298 at Rs 52,900. Experts expect that the volatility in the price of gold will continue for now.
According to India Bullion Association, 23 carat gold is running at Rs 50,268 per 10 grams, 22 carat gold at Rs 46,230 per 10 grams, 20 carat gold at Rs 37852 per 10 grams and 18 carat gold at Rs 29,525 per 10 grams. Most people buy 22 carat gold jewelery only, its rate is Rs 46,230.