Gold, silver futures rebound on value buying after steep sell-off

Gold and silver futures recovered on ‘Thursday after witnessing a sharp selloff in the previous sessions, as traders indulged in value buying amid easing global tensions and improving risk sentiment.

- 

On the Multi Commodity Exchange (MCX), gold futures for December delivery increased by Rs 1,800, or 1.48 per cent, to Rs 1,23,657 per 10 grams in a business turnover of 13,158 lots. Silver futures also rebounded after facing a sharp selloff in the previous sessions, by surging Rs 2,727, or 1.87 per cent, to Rs 1,48,285 per kilogram in 20,868 lots.

On Wednesday, gold futures had plunged by Rs 6,414, or 5 per cent to close at Rs 1,21,857 per 10 grams while silver dropped by Rs 4,769, or 3.17 per cent to settle at Rs 1,45,558 per kilogram as profit-booking intensified after a strong rally.