Gold and Silver Prices Surge as Investors Await US Jobs Report
Gold and silver prices moved upwards on Friday, August 7, as investors awaited the US non-farm payrolls (NFP) report. A firm safe haven appetite and a decline in crude oil prices contributed to this increase.
The MCX Gold futures for October 5 opened at Rs 1,49,029 per 10 grams, an increase of 0.36% from the previous day's close. It later touched an intraday high of Rs 1,49,700, a gain of 0.81% or Rs 1,207 by 12:10 pm.
Silver futures for September 4 prices also saw buying momentum in early deals, touching an intraday high of Rs 2,28,397 per kg, up 0.35% or Rs 813 compared to the previous close. However, at the last count, it was trading at Rs 2,26,580, a decrease of 0.44% or Rs 1,004.
In the international market, COMEX gold was trading 0.36% higher at $4,320 per ounce, while COMEX silver was at $62.36 per ounce, up 0.12%.