Business
MCX Gold and Silver Contracts Rise in Early Trade
Gold and silver prices traded higher in the Indian bullion market, supported by strong global trends and continued investor interest in precious metals.
Gold and silver prices witnessed gains in the Indian bullion market on Monday amid continued investor interest in precious metals.
According to market data, 24-carat gold was trading 0.3 per cent higher at Rs 1,59,620 per 10 grams.
Silver prices also moved upward, rising 0.9 per cent to Rs 2,74,250 per kilogram.
On the Multi Commodity Exchange of India (MCX), gold for the June contract was trading over 0.3 per cent higher at Rs 1,59,050 per 10 grams.
Meanwhile, silver for the July contract was trading 1.6 per cent higher at Rs 2,76,278 per kilogram at the time reports last came in.
Market analysts said precious metals continued to attract buying interest amid global uncertainty, geopolitical tensions, and volatility in currency and equity markets.
Gold is often viewed as a safe-haven investment during periods of economic and geopolitical instability, while silver prices tend to move in line with both investment demand and industrial usage trends.
The gains also come amid fluctuations in global commodity prices and concerns over inflationary pressures and energy market instability.