Mumbai: Price of gold surged in the commodity market. The weakening of the US dollar and easing of Covid-19 restrictions in China supported the yellow metal.
On the Multi Commodity Exchange (MCX), gold futures were trading higher, rising 0.40% or Rs 216 at Rs 54,066 per 10 gram. Silver futures surged by 1.06% or Rs 706 at Rs 67,155 per kg.
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In the international markets, price of spot gold was up 0.5% at $1,807.21 per ounce. It touched its highest level since July 5 at $1,808.20 earlier in the session. US gold futures gained 0.6% to $1,819.60. Among other precious metals, silver gained 1.1% to $23.37, platinum rose 1.1% to $1,024.96 and palladium edged up 0.7% to $1,911.82.
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