New Delhi | Jagran News Desk: Gold Price on October 16: The prices of gold and silver declined in the Indian markets on Friday, tracking weak global cues after the chances of a US stimulus package announcement before the presidential election next month faded. On MCX, December gold futures declined 0.4 per cent to Rs 50,360 per 10 gram, while December silver futures was down 0.9% to Rs 61,064 per kg. In the previous session, gold had edged up 0.5 per cent while silver had gained 1.6 per cent.

As far as global markets are concerns, the price of delivery gold on Comex in December 2020 was up USD 2.50, or 0.13 percent, at USD 1,911.40 an ounce. The price of gold in the spot market was also down by USD 0.19 or 0.01 per cent, to USD 1,908.52 per ounce.

Meanwhile, domestic share markets recovered from Thursday's losses when both the benchmarks had shed around 2.5 per cent. The S&P BSE Sensex index was up around 1 per cent - or 397.3 points to 40,125.71 during the session.

The NSE Nifty 50 benchmark jumped as high as 11,789.75, up 0.94 per cent or 109.4 points from its previous trade. At the end of the session, the Sensex was 254.57 points or 0.64 per cent higher at 39,982.98 while the Nifty was up 82.10 points or 0.70 per cent at settled at 11,762.45.

Posted By: Shashikant Sharma