Gold and silver prices extended gains on Friday amid continued uncertainty in global markets and rising demand for safe-haven assets.
On the last trading day of the week, both gold and silver were trading higher on the Multi Commodity Exchange (MCX India). At around 10:02 a.m., gold contracts for June 5 delivery were trading 0.29% or Rs 449 higher at Rs 1,52,710 per 10 grams. Silver contracts for July 3 delivery rose 0.57% or Rs 1,461 to Rs 2,60,001 per kilogram.
Gold prices on MCX recorded marginal gains during Friday’s session. The June 5 delivery contract opened at Rs 1,52,672 per 10 grams compared with the previous close of Rs 1,52,261 per 10 grams.
During the session, gold touched an intraday high of Rs 1,53,103 per 10 grams. According to market experts, gold prices continue to fluctuate amid global economic cues and movements in the US dollar.
Silver also opened higher on Friday and attracted investor interest. The July 3 delivery contract opened at Rs 2,59,999 per kilogram against the previous session’s close of Rs 2,58,540 per kilogram.
During the day, silver touched a high of Rs 2,61,811 per kilogram, while the low level stood at Rs 2,59,769 per kilogram.
Earlier on Thursday, domestic bullion markets also recorded gains in both gold and silver prices. In the Delhi bullion market, silver prices surged by around Rs 7,000 to reach Rs 2,61,500 per kilogram. Gold prices also rose by Rs 600, taking 99.9% purity gold to Rs 1,56,000 per 10 grams.
Market experts said gold and silver could witness a mild correction at current levels, although the long-term trend for both metals may remain firm.
