Gold rises ₹202 on MCX, silver gains ₹797 on reports of US-Iran talks

Gold and silver futures opened higher on Monday after reports that US President Donald Trump had restarted peace talks with Iran eased geopolitical tensions and led to a fall in crude oil prices.

 

In the global market, gold was trading near $4,115 per ounce on Comex, while silver was around $58.30 per ounce. On the Multi Commodity Exchange (MCX), gold futures were trading near ₹1,43,500 per 10 gram at the time of writing, while silver futures were around ₹2,18,000 per kg.

Gold prices rise

Gold futures opened higher on MCX. The benchmark October gold contract opened at ₹1,43,578 per 10 gram, up ₹ 202 from the previous close of ₹1,43,376.

 

At the time of writing, the contract was trading at ₹1,43,536, up ₹160. During the session, it touched a high of ₹1,43,703 and a low of ₹1,43,500. Gold futures had touched their highest level of the year at ₹1,80,779.

Silver gains

Silver futures also opened on a firm note. The benchmark September silver contract on MCX opened at ₹2,17,995 per kg, up ₹797 from the previous close of ₹2,17,198.

 

At the time of writing, the contract was trading at ₹2,18,075, up ₹877. During the session, it touched a high of ₹ 2,18,251 and a low of ₹2,17,683. Silver futures had touched their highest level of the year at ₹4,20,048 per kg.

Gold, silver firm in international market

In the international market, gold and silver futures opened higher.

 

On Comex, gold opened at $4,135.20 per ounce. The previous closing price was $4,107 per ounce. At the time of writing, gold was trading at $4,115.20 per ounce, up $8.20. Gold prices had touched their highest level of the year at $5,586.20 per ounce.

 

Comex silver futures opened at $58.65 per ounce. The previous closing price was $57.78. At the time of writing, silver was trading at $58.31 per ounce, up $0.52. Silver prices had touched their highest level of the year at $121.79 per ounce.

MCX, Comex prices

 

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.