Gold and silver closed up on Friday. On October 5, 2020, gold futures on the MCX exchange closed at Rs 51,399 per 10 grams, up 0.98 per cent, or Rs 497, on Friday, the last day of the week. Apart from this, gold futures of December 4, 2020 closed at Rs 51,715 per 10 grams, an increase of 1.10 per cent on the last day of the week.
Likewise, on the last day of the week, the futures price of silver on September 4, 2020, rose by 1.47 per cent or Rs 959 to Rs 66,149 per kg. Apart from this, silver futures on December 4, 2020 closed at Rs 68,842 per kg, rising by 1.34 per cent or Rs 913 on Friday.
In this way, there was a significant jump in gold and silver prices on Friday. Despite this, the price of gold in India is still down from its level of Rs 56,200 per ten grams to Rs 5,000 per 10 grams on August 7.
If we compare on a weekly basis, then the price of gold has come down in the last week. At the beginning of the week, October futures gold opened at Rs 51,860 per 10 grams on August 24, Monday. In this way, the gold has fallen by Rs 412 per 10 grams last week. On the other hand, the silver of September futures opened on Monday, August 24, at a price of Rs 66,589 per kg. In this way, the silver has fallen by Rs 613 per kg last week.
On the international level, on Friday, the December global futures price of gold closed at $ 1974.90 an ounce, a 2.19 percent or $ 42.30 increase on Comex. At the same time, the global spot price of gold closed at $ 1964.83 an ons, rising by 1.83 percent or $ 35.29 on Friday. In this way, gold rose by more than 2 percent on Friday. The rise in gold was due to a fall in the US dollar and signs of a long low interest rate strategy by the US Fed Reserve.
Similarly, the global futures silver prices for December futures rose by 2.18 per cent to $ 27.79 an ounce on COMEX on Friday and the global spot price of silver gained 1.80 per cent to close at $ 27.50 an ounce.
Please tell here that the sixth phase of the Sovereign Gold Bond in India will be open for subscription from Monday. RBI has fixed the price of one gram of gold at Rs 5,117 for this phase. The issue will close on September 4.