Gold and silver prices on the Multi Commodity Exchange of India (MCX) opened sharply higher on Tuesday, following a rally in international bullion prices.
MCX gold rate today for April futures contracts opened 2.78% higher at ₹1,48,000 per 10 grams level as against its previous close of ₹1,41,669 level. MCX silver price for March futures contracts opened 4% higher at ₹2,45,711 per kg as compared to its previous close of ₹2,36,261 level.
In the international market, gold price rose more than 3%, rebounding from a near one-month low hit in the previous session, as market participants braced for an absence of key economic data this week due to a partial US government shutdown.
Spot gold price rallied 3.7% to $4,837.16 per ounce, after touching a near one-month low in the previous session. US gold futures for April delivery climbed 4.5% to $4,859.30 per ounce. Spot silver price jumped 5.9% to $84.09 an ounce.
Gold rate scaled a record high of $5,594.82, while silver price hit a life-time high of $121.64 on Thursday.
