Indian Gold and Silver Prices Rise on Weaker Dollar

India's gold and silver prices rose today in response to a weaker US dollar and lower expectations of an imminent rate increase from the Federal Reserve. The international spot price for gold stood at $4,398.58 per ounce, while US December futures were trading at $4,455.50.

The MCX October gold contract witnessed a rise of ₹676 or 0.44% to ₹1.55 lakh per 10 grams on August 17. The overall outlook is positive, although profit booking could lead to volatile intra-day trading. Long-term investors could consider partial buys rather than using all their funds right away.

Silver rates today in India remained stable at ₹250 per gram, with a rise of 6.38% from August 1 to August 17. International silver was around $65.61/oz on August 17.