Gold Price Today: Yellow Metal Rises To Rs 49,049, Silver Also Up

Gold and silver prices witnessed a marginal hike on the Multi Commodity Exchange (MCX) on Tuesday, with gold futures recording an increase of Rs 261 or 0.53 per cent and were at Rs 49,049 per 10 grams.

Both the precious metals were trading on the higher side.

With the silver futures maturing on July 5, the price stood at Rs 72,500 per kg, witnessing a hike of Rs 701 or 0.97 per cent on Tuesday. On Monday, the prices of precious metals had touched a new high after observing a dip last week.

While the gold rates stood at Rs 48,542 per 10 grams on May 31, 2021, the silver rates were Rs 71,611 per kg on the MCX.

Boosted by a weaker dollar and growing inflationary pressures, gold prices rose to a near five-month high on Tuesday. The spot gold was up 0.2 per cent at $1,911.45 per ounce, after hitting its highest since Jan. 8 at $1,914.26 earlier in the session.