Commodities
Gold, Silver Defy Rate Hike Expectations with Gains on Comex and MCX
Gold and silver prices resisted the expected downturn after the US Federal Reserve's interest rate hike. Instead, they strengthened in early trade on Friday, September 18. On Comex, gold futures were trading near $4,400 per ounce, while silver was trading near $66.60 per ounce.
The domestic market saw similar trends, with gold futures on the Multi Commodity Exchange (MCX) trading near ₹1,53,000 per 10 gram and silver futures at ₹2,39,250 per kg. Gold had opened lower on MCX but recovered to trade ₹69 higher at ₹1,53,050.
Silver also gained, opening higher on MCX and touching an intraday high of ₹2,39,970 per kg. In the international market, gold futures were trading lower, while silver futures were trading higher.