Relevant for Exams
Gold, silver futures dip on MCX due to profit booking after silver's record high; remain strong.
Summary
Gold and silver prices experienced a minor dip on Thursday, with gold futures falling 0.26% and silver futures 0.45% on MCX, primarily due to profit booking after silver hit a lifetime high. Despite this, both metals remain near record levels, supported by international cues and a weaker rupee. While reflecting market dynamics, daily commodity price fluctuations like these generally hold low direct relevance for competitive exams, which focus on broader economic policies and long-term trends.
Key Points
- 1Gold futures on MCX slipped by 0.26% on Thursday.
- 2Silver futures on MCX fell by 0.45% on Thursday.
- 3Silver had reached a lifetime high in the trading session prior to Thursday's dip.
- 4The primary reason for the dip was traders booking profits.
- 5Both metals continue to be supported by strong international cues and a weaker Indian Rupee.
Full Article
Gold and silver prices dropped on Thursday, with gold futures slipping 0.26% and silver futures falling 0.45% on the MCX, as traders booked profits after silver hit a lifetime high in the previous session. Despite the dip, both metals remain near record levels, supported by strong international cues and a weaker rupee.