MCX gold rises to ₹1.49 lakh while silver slips
Business
Gold prices nudged higher on Thursday, August 6, while silver took a small dip.
On MCX, gold for October delivery rose by ₹654 (0.44%) to ₹1.49 lakh per 10gm.
Silver for September dropped ₹792 (0.35%), settling at ₹2.26 lakh per kilogram.
Weaker dollar lifts gold, silver profit-taking
Gold got a boost from global trends: a weaker US dollar and softer Treasury yields made it more appealing, especially after weak US job data sparked hopes for a Fed rate cut later this year.
Silver's slip was traders cashing in profits after recent highs; even so, demand from industries like renewables and electronics is still keeping silver prices supported overall.