1 week ago
Gold and Silver Rise as Softer Dollar Boosts MCX Prices
Gold and silver prices went up on Thursday morning.
People bought more precious metals after the US dollar became weaker.
Falling US bond yields also encouraged buying.
Gold futures on MCX rose by 0.25%.
They reached ₹1,58,391 for 10 grams.
Silver futures rose by 1.23%.
They reached ₹2,39,709 for one kilogram.
The price increases were seen in both global markets and India’s futures market.
A softer US dollar triggered buying in precious metals.
Declining US bond yields also supported higher gold and silver prices.
MCX gold October futures rose 0.25% to ₹1,58,391 per 10 grams.
MCX silver September contracts gained 1.23% to ₹2,39,709 per kilogram.
The prices were reported around 9:20 AM on Thursday in domestic and global markets.
- Who
- Gold and silver traders and buyers in global markets and on the Multi Commodity Exchange of India.
- What
- Gold and silver prices rose, with MCX October gold futures up 0.25% and September silver contracts up 1.23%.
- Where
- Global markets and the domestic futures market on MCX.
- When
- Thursday morning, around 9:20 AM.
- Why
- A softer US dollar and declining US bond yields triggered buying in precious metals.
Key facts
- Gold contract
- MCX October futures
- Gold price
- ₹1,58,391 per 10 grams
- Gold change
- Up 0.25%
- Silver contract
- MCX September contracts
- Silver price
- ₹2,39,709 per kilogram
- Silver change
- Up 1.23%
- Reported time
- Around 9:20 AM on Thursday
Sources
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