Gold Prices in India sets a Record

Gold prices in India hovered near record highs today, tracking firm global rates. On MCX, August gold futures were up about 0.3 percent to ₹48,450 per 10 gram. Silver rates also edged higher with futures on MCX rising 0.5 percent to ₹48,600 per kg. Last week, gold prices in India had hit a record high of ₹48,589 per 10 gram. In the previous session, gold had gained 0.8 percent while silver 0.6 percent. In global markets gold prices continued their rally, edging closer to a eight-year high. As surging coronavirus cases across the world dented optimism about a quick global recovery.