On Tuesday, Gold prices are higher in Indian markets, pushing prices to a near one-month high. On MCX, gold futures were up 0.38 per cent to Rs 48,278 per 10 gram, while silver advanced 0.3 per cent to Rs 67,442 per kg. In the previous session, gold had edged up 0.12 per cent while silver slumped over Rs 1,000 per kg. In international markets, gold has rebounded this month to trade above $1,800 an ounce after a plunge in June amid fears over the pace of monetary tightening by the US Fed. In India, gold had hit a record high of Rs 56,200 in August last year.

In global markets, gold rates edged higher today as a rebound in covid cases across the world boosted the precious metal’s safe-haven appeal. Spot gold rose 0.3 per cent to $1,818.25 an ounce. A dip in US bond yields also supported gold. Lower bond yields reduce the opportunity cost of holding non-interest-bearing gold.

Among other precious metals, silver eased 0.1 per cent to $25.18 per ounce, while platinum rose 0.3 per cent to $1,077.98.

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New waves of Covid-19 are challenging previous optimistic assumptions about the pace of the global economic recovery. The US has warned citizens against travel to the UK, which this week lifted most of the pandemic restrictions.