Precious Metals Prices Fluctuate Amid Uncertainty
Precious metals prices rose last week in both domestic and international markets. Gold futures in MCX-Gold (₹1,43,106) saw a gain of 1.6 per cent, while silver futures in MCX-Silver (₹2,22,138) rose by 2.7 per cent.
In the global market, gold was trading at $4,053/ounce and silver at $58.20/ounce, both with significant gains of 0.9 and 4.1 per cent respectively. The trend in the domestic market is uncertain, with prices fluctuating within specific ranges for gold and silver futures.
The MCX-Gold contract has been trading between ₹1,40,000 and ₹1,48,000 levels, while the MCX-Silver contract is oscillating around ₹2,14,000 and ₹2,39,000. Any breakout of these ranges would indicate the direction of the next trend.
Traders are advised to exercise caution and wait for a clear signal before entering new trades.