Gold prices jump sharply, silver surges ₹2,500 in a day
Live MintGold and silver prices rose sharply in India after remaining range-bound for most part of the week. Gold futures on MCX rose ₹650 or 1.3% to ₹50,817 per 10 gram while silver futures surged 4% or ₹2,500 to ₹62,955 per kg on Friday. Additionally, a widening lead for Democratic presidential candidate Joe Biden has raised the prospect of further stimulus, adding to gold's allure, say analysts. The issue price for the sovereign gold bond has been fixed at ₹5,051 per gram of gold, the Reserve Bank of India said in a statement on Friday. "The nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period.works out to ₹5,051 per gram of gold," the RBI said.