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As for silver futures, the uptick in October is around 3.58% or Rs 2,500 while the year-to-date gains stand at Rs 4.25% or 2,947 per kg.
MCX December gold futures were trading flat at Rs 60,955 per 10 gram, up by Rs 3. They are at five month high levels. Meanwhile, the December Silver futures were trading at Rs 71,732 per kg, higher by Rs 152 or 0.21%.
MCX December gold futures were trading at Rs 60,977 per 10 gram, up by Rs 151, or 0.25%. They are at five month high levels. Meanwhile, the December Silver futures were trading at Rs 71,955 per kg, higher by Rs 168 or 0.23%.
Gold jewellery demand is expected to improve in the domestic market in the last quarter of 2023 due to the festival season and wedding season. However, overall demand has been lower compared to last year due to factors such as weak monsoon and higher prices. The ongoing geopolitical concerns and factors like a slowdown in global growth and central bank buying are expected to support the current rally in gold prices. Silver has underperformed gold this year, and its investment demand has declined.
MCX December gold futures traded in the red on Wednesday at Rs 60,476 per 10 gram, down by Rs 61, or 0.10%. Meanwhile, the December Silver futures were trading at Rs 71,670 per kg, higher by Rs 116 or 0.16%.