Gold rate today: Yellow metal gains some strength; silver remains below Rs 56,000

Gold futures on MCX were trading marginally higher by 0.14% or Rs 70 at Rs 49,220 per 10 grams. However, silver futures were flat, up by merely 0.09% or Rs 51 at Rs 55,403 per kg. Gold prices have declined more than 20% since rising above the key $2,000 level in March, as rapid US rate hikes made the non-yielding bullion less attractive and also pushed the dollar to multi-year highs.

Gold rate today: Yellow metal gains some strength; silver remains below Rs 56,000
Gold futures on MCX were trading marginally higher by 0.14% or Rs 70 at Rs 49,220 per 10 grams. However, silver futures were flat, up by merely 0.09% or Rs 51 at Rs 55,403 per kg. Gold prices have declined more than 20% since rising above the key $2,000 level in March, as rapid US rate hikes made the non-yielding bullion less attractive and also pushed the dollar to multi-year highs.