1 week ago
MCX Gold Nears ₹1.60 Lakh as Silver Climbs
Gold and silver prices went up in India’s futures market on 21 August.
Gold came close to ₹1.60 lakh for 10 grams.
Silver reached about ₹2.44 lakh per kilogram.
The rise was supported by stronger demand in the spot market.
Prices also followed gains in U.S. markets.
Gold in the United States was heading toward its third weekly increase in a row.
The dollar became weaker during the week.
When the dollar weakens, gold can become cheaper for people using other currencies.
An announcement about U.S. Treasury bond buybacks also supported gold prices.
MCX gold October futures rose 0.17% to ₹1,59,700 per 10 grams on 21 August.
MCX silver September contracts gained 0.48% to ₹2,44,400 per kilogram.
Prices increased amid positive global cues and healthy spot-market demand.
U.S. gold prices were on track for a third consecutive weekly gain.
A 0.20% decline in the dollar index made gold cheaper for buyers using other currencies.
- Who
- Gold and silver traders and buyers in domestic and global markets.
- What
- MCX gold and silver futures rose, with gold nearing ₹1,60,000 per 10 grams and silver reaching ₹2,45,000 per kilogram.
- Where
- The domestic futures market in India, alongside U.S. markets.
- When
- Friday, 21 August, with prices reported around 9:15 in the article’s market update.
- Why
- Positive global cues, healthy spot-market demand, a weaker dollar, and the U.S. Treasury’s bond buyback announcement supported prices.
Key facts
- Gold contract
- MCX October futures
- Gold price
- ₹1,59,700 per 10 grams
- Gold move
- Up 0.17%
- Silver contract
- MCX September contracts
- Silver price
- ₹2,44,400 per kilogram
- Silver move
- Up 0.48%
- Dollar index
- Down 0.20%
Sources
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