Gold and silver spike on MCX as silver outpaces gold
Business
Gold and silver just spiked on the MCX: gold futures are up 1.11% at ₹1.44 lakh per 10gm, and silver jumped 1.70% to ₹1.88 lakh per kilo.
Silver is actually outpacing gold this time, following a recent dip in the market.
Oil drop, India demand lift metals
Globally, prices for both metals are climbing too, thanks to lower crude oil prices easing inflation worries and India's festive season boosting demand at home.
Investors are also watching US interest-rate moves and global events like U.S.-Iran relations, since these could shake up gold and silver prices even more in the coming weeks.