Today’s prices tell us about the increase of gold and silver rates in between a selloff among global equities, as MCX gold futures went up 0.3% to Rs50,911 per 10 gram and silver increased 0.23% to Rs67,080 per kg. Before today’s statistics, gold prices were in a three-day consecutive drop, wherein its futures had lessened 0.12% per 10 gram, while silver had plunged 0.12% or Rs1,300 per kg. When compared to high performances by gold as observed on August 7th with Rs56,200, rates have continued to be volatile.

Internationally, gold prices remained higher, aided by a plunge in global equities, creating more massive demand for the yellow metal. However, unlike recent previous sessions, the US dollar was more robust. Gold traders anticipate the release of US non-farm payrolls data for August, which is to be revealed later today.

Spot gold increased 0.4% at $1,937.84 per ounce. The head of the Chicago Federal Reserve on Thursday called on Congress to deliver more fiscal stimulus and signalled US monetary policy would be simplified more.

In comparison with other metals, silver profited 1.1% to $26.92 per ounce, and platinum increased by 0.6% to $894.97.

The sixth tranche of sovereign gold bonds of this year is closing today, since its initial subscription opening on Monday. The RBI is issuing bonds at Rs5,117 per gram while those applying online and making payment online get a discount of Rs50 per gram.

Analysts suggest sovereign bonds being a productive way to invest in non-physical gold should investors hold it until maturity. Gold bonds have a maturity period of eight years, stored in a Demat form while there is no GST levy which a buyer needs to pay if buying physical gold. Also, a buyer receives an annual interest payment of 2.5%.