Gold and Silver Futures Surge Amid US-China Trade Developments
Gold and silver futures rebounded after sharp sell-offs, driven by improved global risk sentiment and US-China trade developments. On MCX, gold and silver futures rose significantly, recovering from previous declines. Analysts attribute the fluctuations to easing US-China tensions, reduced physical demand post-Diwali, and geopolitical influences.
- Country:
- India
After enduring sharp sell-offs, gold and silver futures experienced a notable recovery on Thursday. This surge was influenced by improving global risk sentiment and developments in US-China trade relations, prompting traders to engage in value buying.
On the Multi Commodity Exchange, December gold futures rose by Rs 1,800, or 1.48%, reaching Rs 1,23,657 per 10 grams. Silver futures also made gains, climbing by Rs 2,727, or 1.87%, to Rs 1,48,285 per kilogram.
Analysts cited easing tensions between the US and China, reduced demand post-Diwali in India, and geopolitical factors as reasons behind the recent price fluctuations. Despite corrections, gold maintains a substantial annual increase, buoyed by potential Federal Reserve rate cuts and other global influences.
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