Editor’s Note
After a recent dip, gold and silver prices have rebounded strongly in today’s session, reaching higher levels both domestically and globally. This recovery has helped restore investor confidence in the precious metals market.
After recording a decline in the previous trading session, a strong recovery was seen in gold and silver prices today. The bullish trend in both precious metals persisted from the domestic futures market to the global market. In today’s session, gold and silver touched higher high levels compared to their previous close, which has restored investor confidence.
On the Multi Commodity Exchange of India (MCX) on Friday, gold was seen trading at around 1,54,353 rupees per 10 grams, up by about 1,517 rupees. The day’s high was 1,54,837 rupees, which is 2,001 rupees higher than the previous close, while the low was recorded at 1,53,750 rupees. This means a difference of 2,001 rupees was observed from the previous close to the day’s high. This rally after the previous decline is signaling strong buying in the market.
On MCX, silver is trading at 2,42,608 rupees per kilogram, up by 6,173 rupees. Silver’s previous close was 2,36,435 rupees. Today’s high was 2,43,699 rupees, which is 7,264 rupees more than the previous closing price. Meanwhile, the day’s low was 2,39,626 rupees. Thus, a difference of 7,264 rupees was recorded from the previous close to today’s high. This strength in silver is being seen as a sign of industrial demand and short covering.
In the global market, gold on COMEX was seen trading at 4,992.60 dollars per ounce, up by 44.20 dollars from the previous session. Today’s high was 5,016.40 dollars, while the low was recorded at 4,907.10 dollars. In the international market, gold has received support from a softer dollar index and demand for safe-haven investments.
On COMEX, silver is trading at 76.840 dollars per ounce, up by 1.158 dollars. The day’s high was 77.445 dollars and the low was 73.745 dollars. This surge in silver prices in the global market reflects new buying by investors and positive trends in the metal sector.