Business
Gold, Silver Continue Upward Momentum Amid Positive Global Cues
Precious metals traded higher in the domestic market on Friday, with gold and silver extending gains amid sustained investor interest and supportive global cues. Futures prices on the Multi Commodity Exchange (MCX) also reflected the positive momentum in bullion trading.
Gold and silver prices continued their upward trajectory in the Indian bullion market on Friday, supported by firm global trends and sustained demand for safe-haven assets.
According to the latest market data, 24-carat gold was trading 0.7 per cent higher at ₹1,50,520 per 10 grams in the domestic bullion market.
Meanwhile, silver prices rose 0.9 per cent to ₹2,43,550 per kilogram, reflecting positive sentiment across the precious metals segment.
The gains were also mirrored on the Multi Commodity Exchange (MCX), where bullion futures witnessed robust buying activity.
At the MCX:
- Gold for the August contract was trading 1 per cent higher at ₹1,50,359 per 10 grams.
- Silver for the July contract advanced 1.3 per cent to ₹2,42,850 per kilogram when reports last came in.
Market analysts attributed the rise in bullion prices to a combination of factors, including global economic uncertainty, fluctuations in currency markets, and continued investor preference for assets traditionally considered safe during periods of volatility.
Precious metals often attract increased demand during times of geopolitical tensions and financial market uncertainty, as investors seek to preserve value and diversify their portfolios.
The domestic bullion market also remains sensitive to movements in international gold and silver prices, the strength of the US dollar, interest rate expectations, and import-related factors.
Investors and jewellers are expected to closely monitor upcoming global economic developments and central bank signals, which could influence the near-term trajectory of precious metal prices.
With both spot and futures markets indicating positive momentum, bullion traders will continue to assess evolving market conditions to gauge whether the current rally can be sustained in the sessions ahead.