Gold, silver futures trade higher on hopes of easing West Asia tensions
Crude oil prices declined amid growing diplomatic efforts to end the conflict in West Asia and continued energy supplies from the region. US President Donald Trump is set to address the United Nations General Assembly in New York and may meet Iranian President Masoud Pezeshkian on the sidelines. Against this backdrop, gold and silver futures traded higher on Tuesday, September 22.
In the global market, gold futures on Comex were trading at around $4,385 per ounce, while silver was trading near $66.60 per ounce. In the domestic market, gold futures on the Multi Commodity Exchange (MCX) were trading at around ₹1,53,450 per 10 grams at the time of writing, while silver futures were trading near ₹2,40,150 per kg.
Gold turns costlier
Gold futures opened higher. On the MCX, the benchmark October gold contract opened ₹403 higher at ₹1,53,497, compared with the previous close of ₹1,53,094.
At the time of writing, the contract was trading ₹341 higher at ₹1,53,435. It had touched an intraday high of ₹1,53,497 and a low of ₹1,53,197. Gold futures had touched a record high of ₹1,80,779 earlier this year.
Silver shines too
Silver futures also opened on a firm note. On the MCX, the benchmark December silver contract opened ₹1,212 higher at ₹2,40,529, compared with the previous close of ₹2,39,317.
At the time of writing, the contract was trading ₹833 higher at ₹2,40,150. It had touched an intraday high of ₹2,40,529 and a low of ₹2,39,799. Silver futures had touched a record high of ₹4,20,048 per kg earlier this year.
Gold, silver trade higher in international market
Gold and silver futures were trading higher in the international market.
On Comex, gold opened at $4,382.50 per ounce, compared with the previous closing price of $4,383.90 per ounce. At the time of writing, it was trading $1.40 higher at $4,385.30 per ounce. Gold had touched a record high of $5,586.20 per ounce earlier this year.
Comex silver futures opened at $66.51 per ounce, compared with the previous close of $66.41. At the time of writing, they were trading $0.20 higher at $66.61 per ounce. Silver had touched a record high of $121.79 per ounce earlier this year.
MCX, Comex prices
Note: On the MCX, gold futures are quoted in rupees per 10 grams and silver futures in rupees per kg. On Comex, both gold and silver futures are quoted in dollars per ounce. Last traded price (LTP) refers to the price at the time of writing.
