New Delhi: Rates of Gold has traded marginally higher on March 9 after closing lower in the previous session.
On Multi Commodity Exchange (MCX), Gold futures rose by ₹308 or 0.7 per cent – ₹44,526 per 10 gram. In the previous session it had closed at ₹44,218 per 10 gram.
Meanwhile, Silver futures also shined with a rise of ₹906 or 1.38 per cent to reach ₹66,758 per kg on Tuesday. In the previous session, Silver had closed at ₹65,852 per kg.
“Dip buyers have emerged after the 1.15% fall overnight and US bond yields have slightly eased, which has provided support for precious metals,” Reuters quoted OANDA senior market analyst Jeffrey Halley as saying.
On the rise of the bullion prices, Reuters quoted Lachlan Shaw, National Australia Bank’s head of commodity research as saying, “In an environment of rising US yields, growth recovery, vaccine rollouts, and investors getting more optimistic on growth prospects; demand for safe havens will struggle.”
