Gold & Silver Surge: MCX Rates Soar
On Tuesday, there was a rise in the prices of both gold and silver in the international markets on Multi Commodity Exchange (MCX).
While on one hand gold has reached a new record level of Rs 65,800 per 10 grams, on the other hand silver has also crossed Rs 75,000 per kg.
gold and silver prices
Gold remains strong in the international market. Talking about MCX, gold futures reached an all-time high of Rs 65,800 per 10 grams. Also, spot gold is trading around $2,100 an ounce.
On Tuesday, silver crossed Rs 75,000 per kg on MCX. Which is an increase of 0.7% from the previous close. Along with this, silver remains strong in the international market also. Spot silver is trading around $25 an ounce.
Reason for rising prices
There are many reasons being considered for the increase in the prices of gold and silver. The first reason is the strong demand for gold and silver in the international markets.
On the other hand, the US dollar is weakening, due to which gold and silver become cheaper for holders of other currencies. Finally, geopolitical uncertainty also motivates investors to invest in safe-haven assets.
Disclaimer: International market data is also subject to change, and the rates presented here are approximate.
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