Price of yellow metal at a hike on constant basis

The gold market is seeing constant profits as prices are constantly increasing for the yellow metal.

- Pritha Misra

 

Following clear global indications, this month gold prices rose in Indian markets to a nine-month high. Silver prices increased by 1% to reach `66,570 per kg on the MCX while gold futures increased by 0.9% to `49,292 per 10 grams. Gold increased 0.6% to $1,860.59 per ounce on international markets as heated US inflation data encouraged investors to place their money in the precious metal’s safety. According to analysts, if inflation fears continue to rule public opinion, gold, which is viewed as a hedge against inflation, would be well supported.