From mint · A Ksheerasagar · · 1m 20s
Gold and silver prices rebound from multi-month lows
Gold and silver prices rebound after multi-month lows as crude oil falls.
In brief
Gold and silver prices rebound after multi-month lows as crude oil falls. Gold and silver prices rebounded from multi-month lows due to easing inflation concerns and a drop in crude oil prices. Originally reported by mint.
Gold and silver prices rebound
Gold and silver prices rebounded on Monday after hitting multi-month lows, supported by easing inflation concerns as oil prices fell and the US dollar weakened.
Gold futures contract
The December gold futures contract on the MCX gained ₹ 2,039 per 10 grams to touch the day’s high of ₹ 1,40,524.
Silver prices rebound
Silver prices also attempted a recovery, with the futures contract rising ₹ 5,543 per kg to ₹ 1,84,675.
Silver's monthly decline
Silver logged back-to-back monthly losses, with October marking its steepest monthly decline at 20% or ₹ 44,574 per kg.
Crude oil falls 7%
Crude oil prices extended the decline on Monday, with Brent crude futures dropping 7% to below $105 a barrel.
Iran's two-day plan
Iran reportedly said it had a two-day plan to reopen the Strait of Hormuz and resume nuclear talks with the United States.
US dollar weakens
The US dollar traded lower around 101.6, extending its losing streak to a fourth consecutive session.
At a glance
Gold and silver prices rebounded from multi-month lows due to easing inflation concerns and a drop in crude oil prices.
