Gold Price in India: Domestic gold futures registered a volatile trading session on Thursday, December 24, as the yellow metal soared amid positive domestic markets. Multi Commodity Exchange (MCX) gold futures, due for a February 5 delivery, were last seen trading lower by 0.26 per cent - at Rs 50,021, having swung between Rs 49,943 and Rs 50,186 during the session compared to their previous close of Rs 50,149. Silver futures for a March 5 delivery were lower by 0.36 per cent at Rs 67,330. (Also Read: Is Silver The New Gold?)
In the national capital, gold prices rose by as much as Rs 385 to Rs 49,624 per 10 gram today. Silver rates also surged by Rs 1,102 to Rs 66,954 per kilogram, from Rs 65,852 per kilogram, in the previous trade. In the international market, gold was trading with gains at $ 1,878 per ounce and silver was flat at $ 25.80 per ounce.
Domestic spot gold closed at Rs 49,995 per 10 grams on Thursday, and silver at Rs 66,431 per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).
"Gold prices gained on dollar decline after the previous volatile session. The pandemic concerns over new strain of coronavirus and lockdowns have also lifted gold prices,'' said Tapan Patel, HDFC Securities Senior Analyst (Commodities).
Meanwhile, the rupee surged 21 paise against the US dollar today, to settle at 73.55 (provisional) amid sustained foreign fund inflows and positive domestic equities. The dollar index, which gauges the greenback's strength against a basket of peers, was down 0.20 per cent to 90.23. Brent crude futures, the global oil benchmark, declined 0.35 per cent to $ 51.02 per barrel.