Gold prices on Multi Commodity Exchange of India (MCX) traded flat on Monday, tracking stable global billion prices, amid signs of easing geopolitical tensions and expectations of an end to the Russia-Ukraine war.
MCX gold prices opened higher at ₹99,960 per 10 grams as against its previous close of ₹99,838 level. MCX silver prices opened 1,13,951 per kg as compared to its previous close of ₹1,13,943 level.
At 9:15 AM, MCX gold price was trading flat at ₹99,834 per 10 grams, while MCX silver price was up 0.07% at ₹1,14,025 per kg.
In the international market, gold prices rose after hitting a two-week low, supported by lower US Treasury yields. Spot gold price gained 0.3% to $3,345.64 per ounce, after hitting its lowest level since August 1. US gold futures for December delivery rose 0.3% to $3,391.80. Spot silver rose 0.3% to $38.08 per ounce.
US President Donald Trump held a meeting with Russian President Vladimir Putin in Alaska on August 15, aimed at ending the war in Ukraine, decreasing the safe-haven appeal for the yellow metal.
Investors now await Donald Trump’s meeting with Ukrainian President Volodymyr Zelenskiy and European leaders to discuss a peace deal with Russia.
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