Fresh peak gold and silver rate: MCX yellow metal cross for the first time Rs 11.1 lakh, white metal hit rate Rs 1,29,600
Gold and silver are high again: Domestic gold and silver prices expanded fresh peaks on Monday, tracking global benchmarks. On MCX, gold futures (October 3) hit an unprecedented Rs 1,10,299 in the last few hours of the evening, for the first time ever. Silver Futures (December 5) is estimated to reach Rs 1,29,600. Both precious metal contracts recovered initial losses to register new all-time highs, while the COMEX benchmark hit a record high of Rs 3,722.2 per ounce and Rs 43.13 per ounce, respectively.
With the latest record highs, both metals have expanded their record runs, scaling a series of highs this month.
Most analysts attribute the surge to a softer dollar, solid security demand and expectations around the Fed’s exchange rate outlook at the FOMC meeting this week.
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In the upcoming Fed policy review, global markets are priced at 25 basis.
