Rising gold and silver prices

In futures trading, gold and silver prices continued to rise on Thursday. Strong demand from investors and the US Federal Reserve’s 25-basis-point rate cut pushed silver futures to a new record high of ₹1,93,452 per kg. On the Multi Commodity Exchange (MCX), the February 5 gold contract opened at ₹1,30,250 for 10 grams, up ₹76 from the previous close of ₹1,29,796, and later reached a high of ₹1,30,590.

Silver futures also opened with gains. The contract started at ₹1,88,908 per kg on MCX, up ₹895 from the previous close of ₹1,88,735. It then surged to a new record high of ₹1,93,452 per kg, a gain of ₹4,717. At the last check, silver was trading at ₹1,92,470, up ₹3,735 or 1.98%.