Editor’s Note
After a sharp correction from record highs, gold and silver prices are rebounding strongly in both domestic and international markets today. This recovery highlights the ongoing volatility and investor interest in precious metals.
Gold and silver futures prices had fallen sharply due to profit-booking from record levels. Now, prices are seeing a sharp recovery from lower levels. Both opened higher today. At the time of writing, gold futures in the domestic market were trading around ₹1,58,400, while silver futures were trading around ₹2,82,750. In the international market, gold and silver are also trading with gains.
Gold futures prices opened higher today. On the Multi Commodity Exchange (MCX), the benchmark April gold contract opened at ₹1,58,420, up ₹4,009. The previous close was ₹1,53,809. At the time of writing, this contract was trading at ₹1,58,400, up ₹4,591. It touched an intraday high of ₹1,58,420 and a low of ₹1,56,553. Gold futures had touched an all-time high of ₹1,80,779 last month.
Silver futures opened strong. On MCX, the benchmark March silver contract opened at ₹2,78,015, up ₹10,000. The previous close was ₹2,68,015. At the time of writing, this contract was trading at ₹2,82,752, up ₹14,737. It touched an intraday high of ₹2,84,094 and a low of ₹2,75,044. Silver futures touched an all-time high of ₹4,20,048 per kg this year.
Gold and silver futures prices have regained momentum in the international market. Prices have recovered significantly from the lows they fell to recently due to profit-booking. On Comex, gold opened today at $4,966.10 per ounce. The previous closing price was $4,935 per ounce. At the time of writing, it was trading at $5,062.50 per ounce, down $127.50. Gold prices touched a high of $5,586.20 this year. Silver futures on Comex opened at $84.91. The previous closing price was $83.30. At the time of writing, it was trading at $86.67 per ounce, up $3.37. Its price touched a high of $121.79 this month.
MCX
Open | Last Close | LTP
Gold: ₹1,58,420 | ₹1,53,809 | ₹1,58,400
Silver: ₹2,78,015 | ₹2,68,015 | ₹2,82,752
Comex
Open | Last Close | LTP
Gold: $4,966.10 | $4,935 | $5,062.50
Silver: $84.91 | $83.30 | $86.67
(Note: In MCX, gold futures prices are in rupees per 10 grams, silver in rupees per kg. On Comex, futures prices for both are in dollars per ounce. Last trading price (LTP) is as of the time of writing.)