On Wednesday, the price of gold has shown a tremendous increase in the domestic futures market. With this increase, the futures price of gold has reached a near-record level. Gold futures on October 5, 2020, was trading at a record high of Rs 55,147 per 10 gram, rising by 1.09 per cent or Rs 596 on MCX on Wednesday afternoon at 1.13 pm. The futures price of gold on December 4, 2020, was also recorded at this time by 1.22 percent. But at the present trading time, gold is trading at a record level of Rs 55,400 per 10 grams.
Talking about silver in the domestic futures market, its futures price has crossed the Rs 71,000 per kg level. According to media reports, silver in the domestic futures market has once again crossed the psychological level of Rs 71,000 per kg.
The futures price of silver on MCX was very balanced on 4 September 2020. But at 1.17 pm on Wednesday afternoon, it was trading at Rs 71,637 per kg, with an increase of 2.64 percent or Rs 1840. Apart from this, the futures price of silver on December 4, 2020 was currently trending at Rs 73,390 per kg, with a strong jump of 2.57 Feeds or Rs 1839. Also, Ajay Kedia, director of Kedia Advisory, believes that there is a strong investment demand in silver, as it is an industrial metal. Apart from this, he said that as time goes on, industrial activities will increase and silver may get buoyed.
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