Commodities
Gold and Silver Prices Soar Amid Crude Oil Price Decline
MCX gold and silver prices surged on Thursday as crude oil prices declined sharply. The price of MCX Gold futures rose to Rs 1,50,308 per 10 grams, up from last closing at Rs 1,49,036.
Silver futures soared to Rs 2,26,537 per kilogram, a significant increase from the previous day's closing of Rs 2,23,706 on the Multi Commodity Exchange (MCX).
Ponmudi R, CEO Of Enrich Money, noted that MCX Gold opened strong and was trading above Rs 149,500. Immediate resistance is placed at Rs 150,000, Rs 150,700, followed by Rs 152,000, Rs 152,600.
Gold rates in key Indian cities also saw an increase, with the 24 karat gold rate today in India being Rs 1,50,500 per 10 grams and the 22 karat gold rate today at Rs 1,37,958 per 10 grams.