Gold nears ₹1.5 lakh on MCX, silver rallies amid easing West Asia tensions
Gold and silver futures advanced as easing West Asia tensions boosted hopes the US Federal Reserve may delay further interest rate hikes
 "Gold nears ₹1.5 lakh on MCX, silver rallies amid easing West Asia tensions")
Gold and silver futures rose on Thursday as easing geopolitical tensions in West Asia raised expectations that the Federal Reserve may defer further interest rate increases.
In the global market, gold was trading near $4,325 per ounce on Comex, while silver was around $62.30 per ounce. On the Multi Commodity Exchange (MCX), gold futures were trading near ₹1,49,400 per 10 gram at the time of writing, while silver futures were around ₹2,28,100 per kg.
Gold prices rise
Gold futures opened higher on MCX. The benchmark October gold contract opened at ₹1,49,029 per 10 gram, up ₹536 from the previous close of ₹1,48,493.
At the time of writing, the contract was trading at ₹1,49,380, up ₹887. During the session, it touched a high of ₹1,49,494 and a low of ₹1,48,900. Gold futures had touched their highest level of the year at ₹1,80,779.
Silver also gains
Silver futures opened lower but later recovered. The benchmark September silver contract on MCX opened at ₹2,27,500 per kg, down ₹84 from the previous close of ₹2,27,584.
At the time of writing, the contract was trading at ₹2,28,120, up ₹536. During the session, it touched a high of ₹2,28,125 and a low of ₹2,27,008. Silver futures had touched their highest level of the year at ₹4,20,048 per kg.
Gold firm in international market; silver recovers after weak start
In the international market, gold futures opened higher, while silver recovered after a weak start.
On Comex, gold opened at $4,307 per ounce. The previous closing price was $4,305.20 per ounce. At the time of writing, gold was trading at $4,325.50 per ounce, up $20.30. Gold prices had touched their highest level of the year at $5,586.20 per ounce.
Comex silver futures opened at $62.20 per ounce. The previous closing price was $62.28. At the time of writing, silver was trading at $62.31 per ounce, up $0.03. Silver prices had touched their highest level of the year at $121.79 per ounce.
MCX, Comex prices
| Exchange | Commodity | Open | Previous close | Last traded price |
| MCX | Gold | ₹1,49,029 | ₹1,48,493 | ₹1,49,380 |
| MCX | Silver | ₹2,27,500 | ₹2,27,584 | ₹2,28,120 |
| Comex | Gold | $4,307 | $4,305.20 | $4,325.50 |
| Comex | Silver | $62.20 | $62.28 | $62.31 |
Note: MCX gold futures prices are in rupees per 10 gram, while MCX silver futures prices are in rupees per kg. Comex gold and silver futures prices are in dollars per ounce. Last traded prices are as of the time of writing.