The prices of gold and silver futures are rising on the second day of this week, following a significant decline on Tuesday, the day of the general budget. Both of their futures prices opened higher today.
The futures price of silver was approximately Rs 85,350, while the futures price of gold was approximately Rs 68,800 when the report was written. Gains were also seen in the global market’s opening prices of gold and silver futures.
BREAKING: Hedge funds are the most bullish gold since the Pandemic CRASH.
This comes after gold prices have rallied by 17% year-to-date.
The yellow metal is also up by 33% over the last 3 years.
It has been a fantastic period for gold. pic.twitter.com/IVNeD7dHWj
— Global Markets Investor (@GlobalMktObserv) July 22, 2024
 Prices for Gold Futures Increased.
Today began with a surge in gold futures. On the Multi Commodity Exchange (MCX), the benchmark August contract for gold began today at Rs 68,790, up Rs 280.
When the news was written, the contract’s market value was Rs 68,742, representing an increase of Rs 232. It reached a high of Rs 68,832 and a low of Rs 68,652 during this period. This month, the price of gold futures reached a record high of Rs 74,471.
Silver Glitters as Well.
Today’s silver futures opened strongly. Today, the MCX’s benchmark September contract for silver began at Rs 85,200, up Rs 281.
The contract was selling at Rs 85,340 at the time the report was written, up Rs 321. It reached a daily high of Rs 85,387 and a daily low of Rs 85,110 in the meantime. The price of silver futures reached a high of Rs 96,493 this year.
Silver and Gold Prices are Rising Globally
The price of gold and silver futures began rising on the global market. Comex started the gold market at $2,410.70 an ounce. The price per ounce at the previous closure was $2,407.30. It had gained $9.60 and was trading at $2,416.90 per ounce at the time the report was written. Comex began silver futures at $29.42; the previous close was at 29.33. It had gained $0.14 and was trading at $29.47 per ounce at the time the report was written.
READ: NDA GOVERNMENT TO PRESENT COMPREHENSIVE BUDGET FOR FISCAL YEAR 2024-25