New Delhi, July 21: Gold and silver saw a sharp spike in prices on Monday, the first trading session of the week. On the domestic futures market, gold surged past ₹98,000 per 10 grams, while silver traded near ₹1,12,965 per kilogram.
Analysts suggest buyers should check rates carefully before making any purchases, as even slight miscalculations could lead to a significant impact on the wallet.
In the international market, both gold and silver opened slightly weaker but rebounded quickly. On Comex, gold futures opened at $3,355.60 per ounce, marginally lower than the previous close of $3,358.30. However, the metal has already touched a record high of $3,509.90 per ounce earlier this year, suggesting continued investor confidence amid global uncertainties.
Silver futures also showed a similar trend. They opened at $38.42 per ounce, down slightly from the last close of $38.46, but soon rose by $0.11 to $38.57 per ounce.
The rally in prices is attributed to global economic concerns, central bank moves, and high demand for safe-haven assets. Commodity experts expect the momentum to continue, especially if inflationary trends and geopolitical uncertainties persist.
Buyers are advised to monitor rates in real time and consider price trends before entering the market, particularly during such volatile periods.
