MCX Gold and Silver Prices Spike on RBI Policy Announcement

Gold and silver prices rose sharply on August 5, driven by positive global signals and investor attention to the Reserve Bank of India's monetary policy announcement.

The Multi Commodity Exchange (MCX) saw gold futures increase by nearly ₹1,200 while silver futures added around ₹2,500 per kilogram during early trading.

As of August 5, MCX Gold Futures were trading at ₹1,47,000 per 10 grams and MCX Silver Futures were above ₹2,24,000 per kg.

The city-wise gold rates for 24-carat and 22-carat gold are also mentioned in the article. Delhi saw a price of ₹1,45,300 for 24K and ₹1,33,200 for 22K. Mumbai had a price of ₹1,45,150 for 24K and ₹1,33,050 for 22K.

Market experts expect gold and silver to remain volatile throughout the day as investors wait for cues from the RBI policy decision and global economic signals.