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Gold trades on flat notes, silver gains 0.5%

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Today Gold, Silver Prices: On the Multi Commodity Exchange, gold futures for delivery in December rose 0.22 per cent to trade higher at Rs 46,605 per 10 grams. In the spot market, fine gold of 24 carat purity was selling at Rs 46,430 per 10 grams, 22 carat gold at Rs 45,320, 18 carat gold at Rs 37,610 and 14 carat gold at Rs 29,950. According to India Bullion and Jewelers Association.

Gold prices rose on Friday as a modest fall in US bond yields, supported by expectations of a sharp rise in US interest rates, pushed the dollar to a multi-month high.

Back home, the Indian rupee on Monday closed 5 paise lower at 74.17 against the US dollar in line with its Asian peers amid firming US currency in overseas market.

At the interbank foreign exchange, the rupee opened at 74.16 against the dollar, then fell to 74.17, registering a fall of 5 paise over its previous close.

Analysts said gold prices declined in domestic markets as demand for risk assets increased due to stable equity markets amid the reopening of the economy.

Meanwhile, buying in silver was seen on MCX, up 0.61 per cent in silver futures at Rs 60,923 per kg. According to IBJA, silver was selling at Rs 59,581 per kg in the spot market.

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