Stay updated with breaking news from Head Commodity. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Hardik Mangla, Founder of jewellery brand Demi Luxe said that the traders should look to capitalise on the current bullish trend and make fresh buying positions in gold and silver as the escalating tensions between Israel and Palestine is driving the investors toward safe-haven assets.
MCX December gold futures traded in the red on Monday at Rs 60,537 per 10 gram, up by Rs 191, or 0.33%. Meanwhile, the December Silver futures were trading at Rs 72,543 per kg, higher by Rs 366 or 0.50%.
MCX December gold futures traded in the green on Friday at Rs 60,459 per 10 gram, up by Rs 141, or 0.23%. Meanwhile, the December silver futures were trading at Rs 72,025 per kg, higher by Rs 409 or 0.57%.
MCX Gold futures have gained nearly Rs 3,000 or 5.21% in October largely aided by the Israel-Hamas crisis since last week, Anuj Gupta, Head Commodity & Currency, HDFC Securities said. As for Silver futures, the gains are to the tune of 2.90% or Rs 2,025 on the month-to-date basis, he added.
Meanwhile, the December silver futures were trading at Rs 70,785 per kg, lower by Rs 252 or 0.58%. Both gold and silver gained over 4% in the week gone by.