Gold climbs ₹757 on MCX, silver surges ₹2,266 as crude oil prices ease

Gold and silver futures traded higher after crude oil slipped below $100 a barrel, while renewed geopolitical tensions and safe-haven buying supported precious metals

Gold and silver futures rose on Monday as crude oil slipping below $100 eased immediate inflation concerns, while US President Donald Trump’s military warning to Iran and Houthi rebels boosted safe-haven demand.

 

Both metals opened higher in the domestic and global markets. On Comex, gold was trading near $4,100 per ounce, while silver was around $60 per ounce. On the Multi Commodity Exchange (MCX), gold futures were trading near ₹1,43,750 per 10 gram at the time of writing, while silver futures were around ₹2,23,400 per kg.

Gold futures rise

Gold futures opened higher on MCX. The benchmark August gold contract opened at ₹1,43,575 per 10 gram, up ₹469 from the previous close of ₹1,43,106.

 

 

At the time of writing, the contract was trading at ₹1,43,863, up ₹757. During the session, it touched a high of ₹1,43,887 and a low of ₹1,43,575. Gold futures had touched their highest level of the year at ₹1,80,779.

Silver also gains

Silver futures also opened on a strong note. The benchmark September silver contract on MCX opened at ₹2,23,500 per kg, up ₹1,362 from the previous close of ₹2,22,138.

 

At the time of writing, the contract was trading at ₹2,24,404, up ₹2,266. During the session, it touched a high of ₹2,24,632 and a low of ₹2,23,500. 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 were trading higher. On Comex, gold opened at $4,097.50 per ounce. The previous closing price was $4,070.80 per ounce. At the time of writing, gold was trading at $4,105.50 per ounce, up $34.70. Gold prices had touched their highest level of the year at $5,586.20 per ounce.

 

Comex silver futures opened at $59.81 per ounce. The previous closing price was $58.90. At the time of writing, silver was trading at $59.92 per ounce, up $1.01. 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.