Bullion futures rise as safe-haven demand

Gold and silver climbed higher in futures trade on Monday driven by a modest safe-haven demand in the international markets amid reports that US President Donald Trump may impose restrictions on exports of advanced artificial intelligence hardware to China.

On the Multi Commodity Exchange (MCX), the yellow metal futures for December delivery appreciated by Rs 483, or 0.4 per cent, to Rs 1,21,715 per 10 grams in a business turnover of 13,230 lots. In the previous week, gold had dropped by Rs 2,219, or 1.8 per cent on the exchange.

Silver futures for December delivery jumped by Rs 909, or 0.61 per cent, to Rs 1,49,196 per kilogram in 19,935 lots. The white metal snapped a nearly two-week losing streak, rising Rs 817, or 0.55 per cent, during the past week.