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Commodities

Gold Prices Soar as Crude Oil Slumps

Guavy AI Editorial Team
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Oil Gold Silver
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Gold and silver prices surged up to 3% this week due to softer crude oil prices, which eased concerns over energy-driven inflation.

The Multi Commodity Exchange (MCX) saw gold futures rise 0.84%, or Rs 1,282, to Rs 1,54,263 per 10 grams on Friday.

Silver futures gained 0.16% to Rs 2,42,000 per kg, with the price of 24-carat gold standing at Rs 1,53,727 per 10 grams on Friday, up 1% from Rs 1,51,938 on September 11.

The decline in crude oil prices provided support to gold, while analysts noted that silver outperformed gold due to expectations of a supply deficit for the sixth consecutive year.

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