Gold and silver prices rose in the Indian markets on the first trading day of the week due to the rise in global prices. Today i.e. on Monday, June 06, 2022, on the Multi Commodity Exchange (MCX), the price of August futures gold (24 Carat Gold) increased by 0.30 per cent per 10 grams, while the price of July futures silver rose by 131 per cent per kg. At the same time, the price of gold in the international markets rose to $ 1,850.60 an ounce. With this, the price of silver rose to $ 22 an ounce. Gold has been supported by aggressive interest rate hikes by central banks and moderation in US Treasury yields.

Let us also tell you all that on Friday, due to better than expected US job data, the price of gold had broken 1 percent. Better US job data did not reflect the impact of high inflation and rising borrowing costs in the world's largest economy. At the same time, higher interest rates increase the opportunity cost of holding gold, which earns no interest. Today i.e. in Monday's trade, August futures gold prices on the Multi Commodity Exchange (MCX) rose by Rs 151 or 0.30 per cent to Rs 51,121 per 10 grams. While July futures silver prices jumped by Rs 806 or 1.31 per cent to Rs 62,475 per kg.

Let us tell you that due to the rise in prices and the end of the wedding season, there has been a decline in the demand for gold in India last week. At the same time, experts say that the price of gold has fallen from a record high but it still remains close to $ 1850 an ounce. At the same time, US economic data and Fed comments suggest that central banks will aggressively raise interest rates in the upcoming policy meeting, making it unlikely to increase much.

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