Gold and Silver Prices Rise Up to 3% Amid Softer Crude Oil Prices
Gold and silver prices surged this week, rising by up to 3% due to softer crude oil prices that eased concerns over energy-driven inflation. On the Multi Commodity Exchange (MCX), gold futures for October delivery rose 0.84%, or Rs 1,282, to Rs 1,54,263 per 10 grams on Friday.
The yellow metal touched an intraday high of Rs 1,54,600 and a low of Rs 1,52,171 during the session. Silver futures for December delivery gained 0.16% to Rs 2,42,000 per kg, reaching an intraday high of Rs 2,43,047 and a low of Rs 2,38,173.
The India Bullion and Jewellers Association (IBJA) reported that 24-carat gold stood at Rs 1,53,727 per 10 grams on Friday, up Rs 1,789 or more than 1% from Rs 1,51,938 on September 11. Silver rose by Rs 7,266, or 3.16%, from Rs 2,29,642 on Thursday to Rs 2,36,908 per kg.