Gold-Silver Price Today, June 26: Trading in gold and silver futures resumed with renewed strength today, June 26th. Both metals are witnessing a significant rise in their futures prices.
New Delhi: Gold and silver prices experienced a b resurgence on Wednesday, with a notable increase in futures trading. The prices of these precious metals have risen across both domestic and international markets. On the Multi Commodity Exchange (MCX), both gold and silver futures opened with a sharp rise in early trading.
Gold Reaches Over ₹97600 per 10 Grams
This morning’s trading saw gold August futures open at ₹97600 per 10 grams, marking a gain of ₹243. Previously, the closing price for this contract was ₹97357. As of the time of this report, the futures price is trading at ₹97480 per 10 grams, up by ₹123.
During the day’s trading, gold touched an upper level of ₹97600, while the lowest level was ₹97412. So far this year, gold has reached a high of ₹101078 per 10 grams, a level that continues to attract investor interest. With this current rally, the possibility of gold approaching its all-time high is strengthening.
Silver Prices Also Surge, Reaching a High of ₹106530
Not only gold, but silver prices are also experiencing a substantial surge. On MCX, silver July futures opened today with a gain of ₹425, at ₹106405 per kilogram. The previous close was ₹105980. During trading hours, the futures price rose by ₹422 to trade at ₹106402.
Throughout the day’s trading, silver touched a high of ₹106530 and a low of ₹106329. This year, silver has reached an all-time high of ₹109748 per kilogram. If this upward trend continues, silver could once again reach this record level.
Increased Momentum in International Markets
Alongside domestic markets, gold and silver prices are also rising internationally. On the COMEX (Commodity Exchange), gold opened at $3347.50 per ounce, with the previous close at $3343.10 per ounce. As of the time of this report, gold is trading up by $12.80 at $3355.90 per ounce.
Gold has reached a peak of $3509.90 per ounce this year, an all-time high. This level is attracting investor interest.
Regarding silver, it opened at $36.22 per ounce on COMEX, with the previous closing price at $36.11 per ounce. As of the time of this report, silver is trading up by $0.21 at $36.32 per ounce.
Factors Driving Price Increases
Experts suggest that the current rally in gold and silver is driven by several key factors. Primarily, there is uncertainty surrounding global inflation and interest rates. The policies of central banks in the United States and Europe are being closely monitored. Furthermore, geopolitical tensions and fluctuations in the US dollar are also attracting investors to gold and silver.
A significant factor is the continued accumulation of gold reserves by several countries, particularly China and Russia, which is boosting demand for gold. Regarding silver, increased industrial demand, particularly in the solar energy and electronics sectors, is contributing to its price increase.
Investor Preference for Gold and Silver
Given the current global environment, investors are increasingly turning to gold and silver as a safe investment, particularly when equity markets are experiencing volatility. These metals are traditionally considered safe havens.
Market analysts believe that if international conditions remain unstable, gold and silver prices could rise further in the coming weeks.
Impact on the Jewelry Market
The rise in gold and silver prices is also impacting the jewelry industry and customers. During the wedding season, if prices are high, customers may hesitate to make purchases, which can directly affect jewelry retailers’ sales. However, some customers are still willing to buy despite the higher prices, while others are waiting for price stability.
Currently, the jewelry industry is experiencing a degree of stagnation as consumers await price stability.
