Gold and silver continued their upward momentum this week in India, supported by dovish stance of central banks and festive buying demand. On MCX, gold futures jumped 0.82% to settle near three-month high of ₹48,000 per 10 gram on Friday while silver rose 0.33% to ₹64330 per kg. In fact, gold has surged about ₹1,000 per 10 gram over the past two sessions.
Spot gold was up 1.2% at $1,813 while silver rose 1.2% to $24.05 per ounce. This week, the central bank announcements helped gold reverse from early losses.
