New Delhi, Aug. 27 -- Gold and silver prices on August 27: The price of the yellow metal in India gained nearly 0.7% in the domestic futures market during early trading hours on Thursday, August 27, as uncertainty over the US-Iran conflict in Middle East continued to support safe-haven demand.

MCX Gold 5 October futures were trading at Rs.160,751 per 10 grams. Meanwhile, MCX Silver 4 September contracts were up by 1.04% at Rs.242,124 per kg at around 9:05 am today.

In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is more commonly used for making jewellery because it's more durable in nature.

On Thursday, 24-carat gold was priced at Rs.159,400/10 gm, and...