Bullion Prices Inch Up on Fed Rate Outlook Uncertainty

Bullion prices surged marginally higher on August 3 as market participants assess the uncertainty surrounding the US Federal Reserve's interest rate outlook.

The international spot gold price inched up 0.16% to $4,113.60 per ounce, while silver surged 0.78% to $58.23 per ounce during morning trade on Comex.

In the domestic market, MCX spot gold closed at Rs 1,42,295 per 10 grams on July 31, and futures gold for the October contract declined by 0.02% to Rs 1,43,344 per 10 grams.