Gold and silver futures rise on MCX, prices soften in global market

Gold recovers after a weak start on domestic exchange; Comex futures trade lower

Gold and silver futures rose in the domestic market on Monday, even as both precious metals traded weak in the international market.

 

Silver opened firm on the Multi Commodity Exchange (MCX), while gold recovered after a weak start. At the time of writing, gold futures on the domestic exchange were trading near ₹1,47,650 per 10 gram, while silver futures were around ₹2,34,950 per kg.

 

In the international market, gold and silver futures were trading with losses on the Comex.

Gold recovers after weak opening

Gold futures opened lower on the MCX. The benchmark August gold contract opened at ₹1,45,110 per 10 gram, down ₹2,093 from its previous close of ₹1,47,203.

 

 

At the time of writing of this report, the contract was trading at ₹1,47,630, up ₹427. During the session, it touched a high of ₹1,47,987 and a low of ₹1,45,110.

 

Gold futures had hit their highest level of the year at ₹1,80,779.

Silver futures gain

Silver futures opened on a firm note. The benchmark July silver contract on the MCX opened at ₹2,37,088 per kg, up ₹3,903 from its previous close of ₹2,33,185.

 

At the time of writing, the contract was trading at ₹2,34,976, up ₹1,791. During the session, silver touched a high of ₹2,37,106 and a low of ₹2,34,908.

 

Silver futures had touched their highest level of the year at ₹4,20,048 per kg.

Comex futures trade lower

In the international market, gold and silver futures were trading lower.

 

On Comex, gold opened at $4,231.20 per ounce against the previous close of $4,245.90 per ounce. At the time of writing, it was trading at $4,207.10 per ounce, down $38.40.

 

Gold prices had touched a high of $5,586.20 per ounce this year.

 

Comex silver futures opened at $65.78 per ounce against the previous close of $66.31 per ounce. At the time of writing, silver was trading at $65.68 per ounce, down $0.63.

 

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.