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In Monday’s (8th April 2024) intraday trade, gold and silver prices hit new lifetime highs in the futures market. On the Multi Commodity Exchange, gold contracts for June delivery soared by 440 rupees, reaching an all-time high of Rs 71,080 per 10 grams. Meanwhile, silver futures for May contract scaled a new peak of 82,109 rupees per kilogram.
The escalation in gold prices can be attributed to fresh positions taken by market participants. Additionally, the continued purchase of gold by global central banks has offered significant bolstering to prices, alongside sustained geopolitical tensions