Indian gold and silver futures surged to record highs on Monday, driven by international price increases and the rupee’s decline near its all-time low, according to dealers.
Domestic gold futures climbed by 0.74% to reach a record high of 114,627 rupees ($1,292.29) per 10 grams in early trading. Meanwhile, silver futures soared over 1.3% to 143,968 rupees per kilogram.
The Indian rupee is weakening against the dirham, prompting UAE expats to hesitate in remitting funds.
The Indian rupee is struggling near all-time lows as the dollar continues to strengthen.
