Commodities
Gold Falls, Silver Rises Amid Inflation Concerns
Gold futures on the Multi Commodity Exchange (MCX) opened lower on Wednesday, trading at ₹1,52,180 per 10 gram. This represents a decline of ₹399 from the previous close of ₹1,52,579.
The rising crude oil prices have raised inflation concerns and expectations of higher interest rates, which may weigh on gold. However, demand for gold as an inflation hedge has remained firm.
On the Comex, gold was trading near $4,415 per ounce at the time of writing, while silver was around $66.60 per ounce. Silver futures on MCX were trading higher, opening at ₹2,39,620 per kg and touching a high of ₹2,39,765 during the session.