Gold, Silver Rate Today Highlights: MCX Gold, MCX Silver, ETFs tank; what’s the outlook for yellow, white metal?
Silver prices dropped by 2 per cent to Rs 2.5 lakh per kilogram in the national capital on Monday, while gold recorded a gain of Rs 700 per 10 grams.
Data from the All India Sarafa Association showed that silver fell by Rs 5,000, or 1.96 per cent, to Rs 2,50,000 per kilogram, inclusive of all taxes, compared with Rs 2,55,000 per kg in the previous session on Friday.
In contrast, gold of 99.9 per cent purity climbed Rs 700 to Rs 1,59,200 per 10 grams, inclusive of all taxes, up from Rs 1,58,500 per 10 grams at the last close.
“Silver began the week on a softer note, as investors booked profits after the weekend’s rally. However, ongoing central bank purchases, heightened safe-haven demand amid the correction in tech and AI stocks, and a weaker dollar index have helped cushion the downside,” Gaurvav Garg, Research Analyst, Lemonn Markets Desk, said.
