Gold prices in India on Thursday rallied to Rs 98,630 per 10 grams as of 7:00 a.m. after being Rs 97,790 per 10 grams on Wednesday around the same time.
Most metros too saw a jump in their gold rates on Thursday. The price in the capital city was Rs 98,280 on after being Rs 97,440 per 10 grams on Wednesday. Similarly, the price of gold in the Mumbai was Rs 98,450 per 10 grams; in Bangalore, it was Rs 98,530 per 10 grams; and Kolkata's gold prices stood high and tall at Rs 98,320 per 10 grams. The price for the precious commodity was the highest in Chennai, trading at 98,730.
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Gold prices extended gains in the US market, with gold trading at $3,399.30 a tonne.
Silver
Silver has been trading beyond the 1 Lakh mark since the beginning of this week. On Thursday, silver price was higher at Rs 101,700 per kg after being Rs 101,530 per kg on Wednesday. The commodity has crossed the Rs 1 lakh mark multiple times in the past couple of months, as per the India Bullion Association. Strong industrial demand for silver, fuelled by its importance in renewable energy technologies and electronics, has been driving the surge.
In the US, the silver rate was $34.70 an ounce.
Futures
August 5 Futures for the yellow metal rose 0.85% to look promising at Rs 98,550, on the other hand July 4 futures for silver took and declined 0.02% to Rs 1,01,363.
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