Yellow metal shines on Russia-Ukraine uncertainties; MCX Gold gain over 4% intraday, Silver up 5%

Gold & Silver Price In India: Gold and silver futures rose on Thursday, February 24 as investors sought refuge in safe-haven assets amid the Ukraine crisis. On the Multi Commodity Exchange (MCX), gold futures, due for an April 5 delivery, were last seen 4.67 percent up at Rs 52730 per 10 grams, compared to the previous close of Rs 50,379. 

Meanwhile, MCX Silver futures, which are due for a March 4 delivery, were last seen trading at Rs 67832 per kg, over 5 percent up from the Wednesday closing price. The yello metal futures had ended at Rs 64,585 on Wednesday.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Domestic spot gold opened at Rs 50,800 per 10 grams on Thursday, and silver at Rs 64,737 per kilogram - according to MCX.

Gold prices traded 1.74 percent higher at USD 1,943.7 per ounce in New York, as per PTI reported.