Mumbai, August 26: Gold and silver opened on a positive note on Wednesday, experiencing an increase of nearly half a percent in early trading.
On the Multi Commodity Exchange (MCX), the October gold contract opened at ₹1,63,202 per 10 grams, up by ₹320 from the previous closing of ₹1,62,882. As of 9:35 AM, it was trading at ₹1,62,916, reflecting a modest gain of ₹34.
During the trading session, gold reached a low of ₹1,62,855 and a high of ₹1,63,202, indicating that it is trading within a limited range.
The silver contract for September 4, 2026, opened at ₹2,45,583 per kilogram, up by ₹1,456 from the last closing of ₹2,44,127. Currently, it is trading at ₹2,45,421, showing an increase of ₹1,294 or 0.53 percent.
In the trading session so far, silver has touched a low of ₹2,45,094 and a high of ₹2,46,180 per kilogram.
Internationally, gold and silver prices have also seen an uptick. Gold on COMEX is up by 0.11 percent, trading at approximately $4,699 per ounce, while silver is up by 0.74 percent, nearing $69 per ounce.
Experts attribute the rise in gold and silver prices to falling crude oil prices and declining bond yields, which have also weakened the dollar, providing support to these precious metals.
According to foreign media reports, Oman and Iran are in talks to open the Strait of Hormuz and remove mines, leading to a 2.3 percent drop in the international benchmark for crude oil, bringing it down to around $85 per barrel.
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