Gold, Silver Trade Marginally Higher On Firm Global Cues

Gold, Silver Price Today: Gold and silver prices were trading marginally higher on the back of firm global cues

Gold, Silver Price Today: Gold and silver prices were trading marginally higher on the back of firm global cues after the US dollar retreated from multi-month highs, while investor concerns that the Delta coronavirus variant could dampen the global economic recovery also lifted bullion's safe-haven appeal. Gold futures for delivery in September rose as much as 0.22 per cent to Rs 47,260 per 10 grams on the Multi Commodity Exchange. Gold's advance has, thus, far been capped largely by concerns over the Fed's tapering, OCBC analysts said in a note. "We expect gold to continue trading within a broad sideway trend of $1,750-$1,800 for now, although our near-term bias is to the upside." Highlighting the heavy toll from the recent surge in infections, Japan's factory activity growth slowed in August, while that of the services sector shrank at the fastest pace since May last year.