Prices of gold and silver edged higher in Indian markets on Tuesday, tracking positive global cues. On MCX, gold futures were up 0.2 per cent to ₹47,881 per 10 gram while silver rose 0.36 per cent to ₹69625 per kg. In the previous trade, the gold had closed at ₹46,965 per 10 grams.

In global markets, prices of gold were flat today, supported by a weaker US dollar. Spot gold rose 0.1 per cent to $1,807.22 per ounce after falling to one-week low of $1,790.49 in the previous session.

Silver rose 0.3 per cent to $26.24 per ounce while platinum eased 0.2 per cent to $1,115.68. Gold and silver prices were edging on the higher side for three days in a row before July 8.

In India and other major hubs, physical demand for gold weakened last week as consumers were put off by a rise in the metal’s price. The gold jewellery prices i India vary across states due to excise duty, state taxes and making changes.

According to Reuters, gold prices inched slightly higher on Monday, while investors awaited US inflation data due this week and Federal Reserve Chair Jerome Powell’s testimony. The market will keep a close eye on Tuesday’s consumer price index data.

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