Gold prices in India corrected on Tuesday after a sharp fall in the previous session. On the Multi Commodity Exchange (MCX), the gold contract in October rose by 0.27 percent to Rs 47,292 on 10 grams at 0930 on August 31. On Tuesday, the price of silver also increased. The price of the precious metal rose 0.41 per cent to Rs 63,848 on August 31.
“Global stock markets remained strong for most of the night. US stock indexes are higher in the afternoon. To begin the trading week, US traders and investors were focused on Hurricane Ida, which pounded the Louisiana and Mississippi coasts Sunday and overnight. The final days of the US evacuation in Kabul, Afghanistan, take place earlier this week, following last week’s terror attack that killed several people. The all-important US jobs report came out this weekend on Friday morning. Major external markets today see the US Dollar index trending slightly higher and still higher. Nymex crude oil futures price is strong and is trading at around $ 69.00 per barrel. Meanwhile, the yield on the benchmark US 10-year Treasury note is currently fetching 1.28 per cent,” said Amit Khare, AVP- Research Commodities, Ganganagar Commodities Ltd.
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