Gold price today: Yellow metal is trading flat on MCX
As per the Multi Commodity Exchange (MCX), yellow metal prices were flat on Thursday, with gold August futures at Rs 48,307 per 10 grams and earlier at Rs 48,299.
Meanwhile, Silver September futures were slightly higher at Rs 69,575 per kg, up Rs 163 from the previous close of Rs 69,412.
Internationally, too, gold prices remained flat after hitting a four-week high in the previous session. Spot gold was at 8,824.81 per ounce, hitting a one-day high of 8,829.55 from June 16 in the previous session.
Yellow metal prices hit Wednesday as US Federal Reserve Chief Jeremy Powell rallied to the economic recovery.
Commenting on gold trends, Ravindra Rao, Head, Commodity Research, Kotak Securities, said: Gold rose in intra-day trade between weak US dollars yesterday, softening US 10-year bond yields, uncertainty over U.S. federal stance on tapping bond purchases, focus on the day. Also, an increase in claims could put pressure on the US dollar and support the yellow metal.
