Chennai: Gold and silver started the week with strong gains today, as their futures on the Multi-Commodity Exchange (MCX) soared to more gains.
August gold future increased by Rs 800 pricing at Rs 51,833 per 10 gram, while silver rose Rs 3,400 and was being traded at Rs 64,617 per kg.
It may be recalled that last week, both gold and silver prices had jumped by 4 per cent and 15 per cent, respectively.
At present, gold is trading at a nine-year high, while silver is at four-year high. According to market experts, investors are looking for safe-haven assets in the time of Covid and, therefore, the two metals are turning out to be most promising. Besides, rising US-China tension is also contributing to the price hike.