A drop in US bond yields and a steady dollar index has lifted the price of precious metals including gold and silver
Gold and silver rose in Indian markets today, tracking positive global cues. On MCX, gold futures were up 0.4% to over one-month high of ₹51,848 per 10 gram. Silver futures jumped 1.2% to ₹61,525 per kg. In international markets, gold today continued its rebound, supported by a drop in US Treasury yields retreated but gains remained capped. Spot gold was up 0.2% at $1,719.19 per ounce. A steady US dollar also helped the precious metal. Lower yields decrease the opportunity cost of holding gold, which pays no interest. Spot silver however fell 0.3% to $20.64 per ounce.