The relentless surge in gold prices continued in India on Friday as MCX June gold futures reached an unprecedented high of Rs 72,678 per 10 grams, marking an increase of Rs 804 or 1.12 percent. This surge signifies a new milestone in the ongoing upward trend of gold prices in the country.
Simultaneously, May silver contracts also witnessed a significant upswing, reaching Rs 84,102 for the first time. The trading price settled slightly lower at Rs 83,925, still reflecting a substantial gain of Rs 1,078 or 1.30 percent compared to the previous closing price.
The sharp rise in precious metal prices can be attributed to various factors, including global economic uncertainties, inflationary pressures, and geopolitical tensions. Investors continue to seek refuge in safe-haven assets like gold and silver amidst volatile market conditions.
The latest surge in gold and silver prices underscores the importance of monitoring market dynamics closely for investors and traders alike. With uncertainties prevailing in the global economic landscape, the trajectory of precious metal prices remains a focal point for market participants.
