Business · India Bureau
Gold Surges Past Rs 1.55 Lakh Mark; Silver Climbs Sharply
Precious metals rallied on domestic exchanges as traders positioned ahead of key monetary policy signals from the US Federal Reserve. Gold and silver both posted strong gains in September futures trading.
LSN India ·
Gold futures on the Multi Commodity Exchange climbed 2.3 percent to breach the Rs 1,55,450-per-10-gram mark on Thursday, extending gains on the back of broader market momentum. The September contract rose by Rs 3,497, signaling sustained demand for the yellow metal among investors seeking safe-haven assets.
Silver futures proved even more buoyant, with the precious metal jumping 2.84 percent to Rs 2,36,470 per kilogram. The September silver contract registered gains of Rs 6,527, reflecting stronger price action as traders responded to shifting expectations around global interest rate trajectories.
The rally in precious metals came as market participants digested commentary from Federal Reserve officials regarding the likelihood of near-term rate decisions. Expectations of monetary policy stability have traditionally supported gold and silver valuations, as these commodities become more attractive when real returns on traditional assets face headwinds.
Domestic precious metals markets have remained sensitive to overseas price movements and currency fluctuations. The strength in both contracts suggests renewed investor interest in metals as inflation hedges amid continued macroeconomic uncertainty in global markets.