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Commodities

Gold, Silver Prices Rise as Festive Buying and Global Markets Boost Sentiment

Guavy AI Editorial Team
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Gold and silver prices rose on August 12 due to festive buying and positive global markets. Analysts attributed the increase in precious metal prices to the creation of fresh positions by market participants, supported by firm demand in the spot market.

The gold futures for October delivery on the Multi Commodity Exchange (MCX) advanced Rs 924, or 0.6 percent, reaching Rs 1,54,689 per 10 grams. The contract recorded a business turnover of 848 lots.

Gold also gained in international markets, with futures in New York rising 0.74 percent to $4,402.40 per ounce. Silver prices moved higher on Wednesday, tracking the positive momentum across the broader precious metals market.

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