On Monday, silver futures experienced a decline of ₹140, settling at ₹95,446 per kilogram on the Multi Commodity Exchange (MCX). This 0.15% drop for March delivery contracts occurred in a trading volume of 19,636 lots. Analysts attribute this decrease to participants reducing their positions at current market levels.
In contrast, gold prices demonstrated resilience. The April gold futures contract on the MCX opened at ₹84,946 and reached an intraday high of ₹85,170 per 10 grams. By 10 AM, it was trading at ₹85,156, marking a 0.55% increase from the previous close of ₹84,687.
The divergence between silver and gold prices reflects varying investor strategies and market dynamics. While gold benefits from safe-haven demand amid global uncertainties, silver’s industrial applications make it more susceptible to economic fluctuations.
Investors are advised to monitor market trends closely, considering both global economic indicators and domestic market movements, before making investment decisions in precious metals.
Source: Web Team, C6N
