Gold prices today at Rs 47,960 per 10 gram, silver at Rs 48,670 per kg

In New Delhi, the gold price today of 22-carat gold is holding steady at Rs 46,760 per 10 gram, while in Chennai it is Rs 46,090

Gold prices jumped to Rs 47,960 from Rs 47,950 per 10 gram, while silver went up to Rs 48,670 from Rs 48,660 per kilogram on Saturday, according to the Good Returns.

The prices of gold jewellery vary across India, which is the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

In New Delhi, the price of 22-carat gold is holding steady at Rs 46,760 per 10 gram, while in Chennai it is Rs 46,090. In Mumbai, the rate is Rs 46,860, according to Good Returns website. Prices of 24-carat gold prices in Chennai is Rs 50,280. 

On MCX, August gold futures rose 1.23% to Rs 47,937 per 10 gram. Silver July futures also rose nearly 1.62% to Rs 48,636 per kilogram. MCX has decided to accept gold and silver bars refined at domestic refineries for deliveries, subject to final regulatory approval.

On the US-China front, sentiments improved after China said it planned to accelerate purchases of American farm goods to comply with the phase one trade deal.

In the international market, gold was trading with gains at $1,729 per ounce and silver at $17.49 per ounce.

Meanwhile, a surge in new infections in several US states and the imposition of travel curbs in Beijing to stop a new outbreak served as a reminder of the risks of reopening economic activity before a vaccine has been developed.