Gold and silver prices today remained weak in Indian markets. This comes amid the lacklustre global cues on Monday. On MCX, gold futures were flat at Rs 48,076 per 10 gram. Silver dropped 0.4 per cent to to Rs 68,00 per kg. In the previous session, gold had dropped Rs 400 per 10 gram.
Gold prices on Monday remained also flat in global markets, supported by a retreat in US bond yields. Also major concerns remain regarding a surge in Delta variant of the coronavirus cases which could apparently hurt global economic recovery.
Also, concerns regarding new variants of coronavirus remain another major hurdle to world economy.
Gold rates in Delhi for 10 grams of 22-carat remain at Rs. 47,400. While 10 grams of 24-carat gold is at Rs. 51,700. Gold prices in Chennai per 10 gram of 22 carats is at Rs 45,410 while gold rates of 24-carat is at Rs. 49,540.
Also, gold in Kolkata per 10 grams of 22 carats is at Rs. 47,020. Gold rates for Mumbai per 10 grams of 22 carats have been at Rs. 47,190 and Rs. 48,190 per 10 grams of 24 carats. However, the silver rates have been at Rs 68,400 in Mumbai, Kolkata, Delhi, and the silver rate in Chennai is at Rs. 73,200.
Furthermore, gold is considered as a safe investment during uncertain times. Although, gold has benefitted from the higher inflation as its safe haven appeal increased as hedge against inflation.
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