Gold, Silver Prices Edge Higher, Mirror Gains In Global Markets

Gold, Silver Prices Today: Gold and silver prices edged higher on Friday mirroring gain for yellow metal in international markets after gold prices edged above $1,900 per ounce level on Friday, supported by a pullback in the dollar and lower bond yields, after data showing a rise in US inflation was viewed inadequate to alter the Federal Reserve's easy monetary policy. Gold futures on the Multi Commodity Exchange (MCX) for delivery on August 5 rose as much as 0.3 per cent to Rs 49,346.

In the spot market fine gold with purity of 24 carat was sold at Rs 48,750 per 10 grams, India Bullion & Jewellers Association (IBJA) said on micro-blogging site Twitter. Gold with purity of 22 carat gold was retailed at Rs 47,090 per 10 grams, 18 carat gold was priced at Rs 39,000 and 14 carat gold was sold at Rs 32,420, IBJA said on Twitter.

In international market, Spot gold was up 0.1 per cent at $1,900.51 per ounce, as of 8:43 am. Prices have risen more than 0.5 per cent this week.

US gold futures rose 0.3 per cent to $1,902.90 per ounce.

Data showed US consumer prices rose solidly in May, leading to the biggest annual increase in nearly 13 years, while weekly jobless claims dropped to their lowest level in nearly 15 months last week.

Back home, silver prices also showed an uptick as silver futures for delivery on July 5 rose as much as 0.7 per cent to hit an intraday high of Rs 72,475 per kilogram. In spot market silver was retailed at Rs 71,224 per kilogram, according to IBJA.