Commodities
Gold and Silver Rally as Investors Seek Safe-Haven Assets Amid Market Volatility
Gold and silver futures opened higher on Friday as investors sought safe-haven assets amid rising volatility in currency and bond markets. The United States' plan to impose broader sanctions on Iran also contributed to concerns over inflation, with crude oil prices strengthening.
The October gold contract on the Multi Commodity Exchange (MCX) opened at ₹1,60,630 per 10 gram, up ₹1,205 from the previous close of ₹1,59,425. It later traded as high as ₹1,60,630 and as low as ₹1,59,601.
Silver futures also gained, with the benchmark September contract on MCX opening at ₹2,44,988 per kg, up ₹1,745 from the previous close of ₹2,43,243. It touched a high of ₹2,45,158 and a low of ₹2,44,500.