Gold, Silver Rates Highlights: COMEX silver jumps over 5%, gold above $5,000/oz
Gold, Silver Rates Today LIVE: Gold and silver prices on Multi Commodity Exchange of India (MCX) extended rally on Wednesday, following gains in international bullion prices, supported by a softer US dollar.
MCX gold rate for April futures contracts opened 3% higher at ₹1,58,420 per 10 grams as against its previous close of ₹1,53,809 level. MCX gold price touched a high of ₹1,60,755 level, rising as much as 4.51%.
MCX silver price for March futures contracts opened higher by ₹10,000, or 3.73%, at ₹2,78,015 per kilogram as against its previous close of ₹2,68,015 level. The white metal price jumped as much as 6% to an intraday high of ₹2,84,094 level. MCX silver price was trading higher by ₹13,284, or 4.96%, at ₹2,81,299 per kg.
Comex Gold, Silver Prices
Gold and silver prices in the international markets traded higher, with the yellow metal price bouncing back to near $5,100, a day after it posted its best day in over 17 years, amid safe-haven demand on renewed geopolitical tensions between the US and Iran.
Spot gold price surged 2.8% to $5,076.01 per ounce, after surging 5.9% on Tuesday, its biggest daily gain since November 2008. Bullion scaled a record high of $5,594.82 last Thursday. US gold futures for April delivery climbed 3.3% to $5,097.20 per ounce.
Spot silver price rose 5% to $89.38 an ounce. It touched a record high of $121.64 on Thursday but fell to a month-low at $71.33 on Monday having registered a record single-session price wipe-out of 27% on Friday.
Meanwhile, the dollar fell against most major currencies except the yen, after the recent gains fuelled by upbeat US data and expectations of a less-dovish Federal Reserve. A weaker dollar makes greenback-priced bullion more affordable for holders of other currencies.
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