Business
MCX Gold Futures Slip Despite Strong Physical Market Demand
Gold prices witnessed a strong rally in the domestic bullion market on Monday, climbing nearly 2 per cent and approaching the ₹1.60 lakh mark per 10 grams. Silver also traded higher, reflecting sustained investor interest in precious metals amid global economic uncertainties.
Precious metals continued to attract investor attention on Monday, with gold and silver prices registering gains in the domestic bullion market.
According to market data, 24-carat gold was trading 1.9 per cent higher at ₹1,59,770 per 10 grams. The sharp rise reflects continued demand for safe-haven assets amid uncertainty in global financial markets and fluctuating economic conditions.
Silver also posted gains, rising more than 0.3 per cent to ₹2,68,630 per kilogram in the bullion market. The metal has remained supported by both investment demand and industrial consumption trends.
Meanwhile, trading activity on the Multi Commodity Exchange (MCX) presented a mixed picture. Gold futures for the June contract were trading 0.5 per cent lower at ₹1,54,815 per 10 grams, indicating some profit-booking by traders despite the broader strength in physical market prices.
Silver futures for the July contract, however, continued their upward trajectory on the exchange, rising 0.3 per cent to ₹2,67,809 per kilogram.
Market analysts attribute the recent movement in precious metals to a combination of global factors, including currency fluctuations, geopolitical developments, central bank policies, and expectations regarding interest rates. Gold, in particular, remains a preferred asset during periods of uncertainty, while silver benefits from both safe-haven demand and industrial applications.
Investors are expected to closely monitor international market trends, inflation indicators, and monetary policy signals from major central banks, which could influence the direction of precious metal prices in the coming weeks.