New Delhi, July 16 -- Gold and silver prices in your city on July 16: Gold futures prices jumped in early trade today, July 16, by Rs.49 to Rs.97,260/10 grams as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher by Rs.49, or 0.05 per cent, at Rs.97,260 per 10 grams in a business turnover of 10,695 lots.

Globally, gold futures rose 0.41 per cent to $3,338.05 per ounce in New York.

Overall, experts agree that gold and silver are safe haven bets that investors can make to safeguard their portfolios in these volatile markets and with increased risk aversion.

Over the past 20 years, gold prices have skyrocketed by an impressive 1,200 per cent f...