Gold futures on the Multi Commodity Exchange (MCX) gained ₹1,700 per 10 grams on June 25, reaching an intraday high of ₹1,43,491. This rise followed a retreat in international markets where Comex gold reclaimed the $4,000 per ounce mark, while silver prices also rebounded by $1 per ounce as the US dollar softened, according to livemint.com.
The recovery in gold and silver prices came after both metals had fallen to multi-month lows in the previous session. The near-month gold futures contract on MCX tracked the international market rebound, reflecting cautious optimism among investors amid US inflation concerns. The softening of the US dollar played a key role in lifting precious metal prices on Thursday, June 25, as reported by livemint.com.
This price movement is significant given that gold remains down 8% in June despite the recent rebound, while silver had dropped to a seven-month low prior to the recovery. The fluctuations in precious metal prices are closely tied to global economic indicators, including inflation data and currency strength. The current trend highlights the sensitivity of the Indian commodity market to international developments, with gold and silver serving as key investment assets in India, per livemint.com.
Tracking these developments, the near-month gold futures contract on MCX ended the day with a notable gain of ₹1,700 per 10 grams, touching ₹1,43,491. This marks a key data point for market participants monitoring commodity price trends amid ongoing global economic uncertainties, as detailed by livemint.com.