“Gold Futures Hit Record High, Cross Rs 1 Lakh Mark After GST; Silver Gains Amid Global Uncertainty”

Gold futures on the Multi Commodity Exchange (MCX) in India have reached an all-time high of Rs 99,178 per 10 grams, surpassing the Rs 1 lakh mark in the retail market post-Goods and Services Tax (GST) implementation. The surge in gold prices can be attributed to various factors, including global market volatility and a depreciating dollar. Along with gold, silver futures have also witnessed significant gains, reflecting the economic uncertainty prevalent worldwide. The precious metals market in India is experiencing a bullish trend, with investors flocking to safe-haven assets like gold and silver amidst the ongoing financial instability. This surge in prices is indicative of the strong demand for these metals, as investors seek to hedge against inflation and economic uncertainties. As the global economic landscape remains uncertain, the demand for gold and silver is expected to remain robust, driving prices higher in the coming days. Investors and traders are closely monitoring the market dynamics and geopolitical developments to capitalize on the upward trend in precious metals. The record-breaking prices of gold and silver futures on MCX highlight the strong investment appeal of these commodities in the current market scenario.

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