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Gold, Silver Prices Rise On Safe Haven Demand Ahead Of Fed Chief's Speech

Gold futures for commitment in October rose as abundant as 0.6 per cent.

Gold futures for commitment in October rose as abundant as 0.6 per cent to hit an intraday aerial of Rs 47,519 per 10 grams on the Multi Article Exchange on the aback of amount acceleration in all-embracing markets. In all-embracing markets gold prices rose as an more breakable aegis bearings in Afghanistan spurred safe-haven demand, admitting investors were abundantly focused on Fed arch Jerome Powell's accent for advice on bang cone-shaped plans. Aback home, in atom market, accomplished gold with 24 carat abstention was priced at Rs 47.350 per 10 grams, according to India Bullion & Jewellers Association.

Gold with 995 abstention was priced at Rs 47,160, 916 abstention gold was actuality awash at Rs 43,373, 750 abstention gold was priced at Rs 35,513 and 585 abstention gold was actuality retailed at Rs 27,700 per 10 grams, according to IBJA.

"COMEX gold trades hardly college abreast $1800/oz afterwards a 0.2 per cent accretion yesterday. Gold trades college accurate by safe anchorage affairs amidst accretion tensions apropos to Afghanistan afterward attacks at Kabul airport. Mixed bread-and-butter abstracts from aloft economies and ascent virus cases has additionally lent support. However, belief on gold amount is accretion in US dollar amidst some advancing Fed comments, weaker broker absorption and bead in China's gold imports. Gold may abide to barter close amidst accident abhorrence in the bazaar and a abatement may appear alone if Fed Chairman complete too hawkish," said Ravindra Rao, arch article analysis at Kotak Securities.

Investors now anticipate Jerome Powell's animadversion at the Jackson Hole, Wyoming, appointment at 7:30 pm for any hints about back the Fed will activate cone-shaped its asset purchasing programme.

Silver amount additionally belted college on the MCX as argent futures for commitment in September rose as abundant as 0.7 per cent to barter aloft important cerebral akin of Rs 63,000 per kilogram. In atom market, argent was priced at Rs 63,230 per kilogram.

Gold Amount Today: Yellow Metal Prices Sluggish, Argent Too Down

Gold Amount Today: Gold Futures Trades Lower, Likely To Hover Aloft Rs 47,000

Gold Amount Today: Gold Futures Trades Lower, May Remain Below Rs 48,000 Mark

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