Precious metal rates in the domestic derivatives segment have resumed their upward trajectory just ahead of the festive season. On September 23, trading across the Multi Commodity Exchange witnessed noticeable buying interest in both gold and silver contracts. Futures of 24-karat gold with 99.9 percent purity consolidated firmly around the Rs 1.52 lakh mark per 10 grams, accompanied by an equally sharp uptick in silver prices.
Gold Futures Advance on MCX
The current upward movement in bullion builds directly upon the gains recorded in the preceding trading session. On MCX, gold had advanced by Rs 696 to settle at Rs 1,52,716 per 10 grams on the previous day. Carrying that momentum into Wednesday morning, gold opened higher by nearly Rs 80. By 10.50 AM, the session contract recorded a net advance of Rs 74, changing hands at Rs 1,52,790 per 10 grams.
Silver Rallies Towards Rs 2.41 Lakh Mark
Silver witnessed an identical pattern of early morning buying, rising close to Rs 1,000 before paring minor gains. The metal briefly approached the Rs 2.41 lakh per kilogram mark in early trade. While morning trades saw silver climb by more than Rs 900, the advance moderated to Rs 729 by 10.50 AM, leaving the MCX contract at Rs 2,40,642 per kilogram. The persistent strength in domestic contracts highlights firm underlying physical and festive demand across spot and futures markets.
