Mumbai, 23 February (HS): Gold and silver prices rose on Sunday amid geopolitical concerns and currency movements, with both precious metals recording gains in international and domestic markets.
On the Comex, gold was trading 2 per cent higher at 5,182 US dollars per ounce. In domestic futures on the Multi Commodity Exchange (MCX), the yellow metal settled at Rs 1,56,993 per 10 grams.
Silver also registered a sharp increase, rising 5.65 per cent to 86.90 US dollars per ounce on Comex. In the domestic market, silver futures closed at Rs 2,53,501 per kilogram.
Market analysts attributed the gains to heightened geopolitical tensions and investor positioning ahead of the release of US Federal Reserve meeting minutes. Developments related to China’s market reopening were also cited as factors contributing to volatility expectations.
Traders indicated that currency movements, particularly the performance of the US dollar, and global macroeconomic cues are likely to influence precious metal prices in the coming sessions.
Hindusthan Samachar / Jun Sarkar
