Gold rises 1%, silver gains 1.7% on MCX: Will the rally continue
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Gold and silver prices on the MCX extended their gains on Monday, November 9.
- ✓Gold futures for December delivery rose 1.11% to ₹1.44 lakh per 10 grams, while silver gained 1.70% to ₹1.88 lakh per kilogram.
- ✓Bargain buying and a recovery in global bullion prices helped drive this recent market rally.
Story at a Glance
- Category
- Indian Markets
- Reported By
- CNBC TV18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Gold and silver prices on the Multi Commodity Exchange (MCX) extended their gains on Monday, November 9, with silver outperforming gold amid a recovery in global bullion prices and renewed buying at lower levels.
On the MCX, gold futures for December delivery were trading at ₹1.44 lakh per 10 grams, up ₹1,582, or 1.11%, from the previous close. Silver futures for December delivery gained ₹3,147, or 1.70%, to trade at ₹1.88 lakh per kilogram.
The recovery in domestic bullion prices follows a period of volatility in precious metals, with investors assessing global economic cues, crude oil movements and the outlook for US interest rates.
In international markets, spot gold was trading at $4,121.30 per ounce, up 1.25%, while silver gained 1.83% to $52.89 per ounce, according to data shared by Gaurav Garg, Head of Research at Lemonn.
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