Gold and Silver Prices Soar, Silver Rate Picks up Speed

Business Desk: Domestic market sees an increase in gold and silver prices on Friday. On the Multi Commodity Exchange (MCX), the price of gold rose by 337 rupees to reach 1,20,950 rupees per 10 grams. Gold has hit its highest level this year at 1,31,699 rupees.

The promise of silver also showed strength. The December contract rose by 1,131 rupees to 1,48,200 rupees per kilogram. The highest level for silver this year is 1,69,200 rupees per kilogram.

International markets also witnessed a rise.

At Comex, gold prices opened at $3,986.90 per ounce and traded higher at $3,998.40 per ounce. Gold hit a high of $4,398 this year.

During this time, silver promises at Comex traded at $47.86 per ounce, opening and slightly higher at $48.09 per ounce. Silver also reached a high of $53.76 per ounce this year.