On Friday, before the Akshaya Tritiya, there is an increase in the futures price of gold. On Friday morning, on June 5, 2020, gold futures on the MCX exchange were trading up by 0.39 per cent or Rs 181 to Rs 46,608 per 10 grams. Apart from this, on Friday morning, gold futures price of MCX was increasing by 0.44 percent or Rs 205 to Rs 46,756 per 10 gram on Friday morning. At the same time, there is a decline in the global spot price of gold on Friday morning.
For your information, let us tell you that along with gold in the futures market, silver futures are also seeing an increase on Friday. On Friday morning, silver futures on MCX were trending at Rs 42,025 per kg with a rise of 0.52 per cent or Rs 219 on May 5, 2020. Apart from this, on the futures price of crude oil on MCX, on Friday morning on May 18, 2020, the price of crude oil futures was increasing by 5.66 per cent or Rs 23 to Rs 1362 per barrel.
Gold trade takes place in two ways. One in the spot market and the other in the futures market. The futures market is also called a commodity exchange. Commodities are sold and purchased digitally in the futures market. In futures market, deals are made in future prices based on the old and new prices of the commodity. There are deals in this market for a fixed date. The futures market has a direct impact on the spot market. There is no major difference in commodity prices in the spot market and the futures market.
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