MCX Gold and Silver Futures Soar on Weaker US Dollar

The Multi Commodity Exchange (MCX) saw gold and silver futures surge in price today, driven by a weaker US dollar and lower Treasury yields.

Gold futures for October delivery traded between Rs 1,58,260 and Rs 1,58,540 per 10 grams, while silver futures for September delivery rose above the Rs 2,39,000 per kg mark.

This price rally follows international trends, where investors are turning to precious metals as US bond yields fall. The US Treasury recently announced an increase in its bond-buyback program, injecting liquidity into the market and lowering yields.

The surge in commodity trading activity has also boosted the stock market, with shares of MCX operator rising 5% during the session.