Gold, Silver Rates Today Highlights: Gold and silver prices in India traded higher on Wednesday, following gains in international bullion prices amid rising safe-haven demand.
MCX gold rate for June expiry contracts opened higher by ₹666, or 0.44%, at ₹1,51,427 per 10 grams as against its previous close of ₹1,50,761 level.
MCX silver price for May futures contracts opened 0.67% lower at ₹2,39,257 per kg as compared to its previous close of ₹2,40,892 level.
Buying in gold and silver prices intensified, with MCX gold rate touching a high of above ₹1.52 lakh per 10 grams, while MCX silver price rising above ₹2.42 lakh per kg level.
Weak Dollar Supports Gold
Gold prices rose to their highest in nearly two weeks on Wednesday, supported by a weaker dollar after US President Donald Trump said the war with Iran could wind down within two to three weeks.
Spot gold price rose 0.4% to $4,685.79 per ounce, having hit its highest level since March 20 at $4,723.21 earlier in the day. US gold futures for April delivery gained 0.8% to $4,713.40. Spot silver prices fell 0.8% to $74.53 per ounce.
The US dollar fell 0.2%, making greenback-denominated commodities more affordable for holders of other currencies. The move comes after US President Donald Trump said Iran did not have to make a deal as a prerequisite for the conflict to wind down.
Gold prices declined more than 11% in March in its steepest monthly fall since October 2008.
In other commodities, platinum prices gained 0.7% to $1,963.22 and palladium price was up 0.6% at $1,484.84.
Stay tuned to this segment for Live updates on gold and silver prices today.
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