Mumbai: Gold prices edged higher in the commodity market. The weakening of the US dollar and the increased optimism around the global economic outlook has supported the precious metals.
On the Multi Commodity Exchange (MCX), surged 0.22% or Rs 107 at Rs 48,306 per 10 gram. Silver futures gained 0.19% or Rs 109 to Rs 62,309 per kg.
Also Read: Forex Market: Indian rupee edges higher against US dollar
In the Kerala market, price of sovereign gold surged marginally by Rs 160 to Rs 36,360 per 8 gram. One gram gold is trading at Rs 4535, higher by Rs 20.
In the international market, price of spot gold remained firm at $ 1,806.85 per ounce . U.S. gold futures were up 0.3% at $ 1,808.20. Among other precious metals, silver was up 0.1% at $ 22.80 an ounce, platinum rose 0.3% to $ 968 and palladium fell 0.7% to $ 1,868.94.
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