Gold and Silver Prices Surge on MCX; Silver Jumps ₹8,000 as Markets Open

After a brief decline in the previous trading session, gold and silver prices rebounded sharply on Friday, the last trading day of the week. As soon as trading began on the Multi Commodity Exchange (MCX), both precious metals witnessed strong buying momentum, led by a sharp spike in silver prices.

Silver Sees Sharp Rally

Silver prices surged by nearly ₹8,000 per kilogram in early trade. The March 5 delivery silver contract, which had settled at ₹3,27,289 per kg in the previous session, opened higher at ₹3,33,333 per kg. During early trading, silver touched an intraday high of ₹3,39,927 per kg.

At around 10:26 AM, silver was trading at ₹3,34,879 per kg, up ₹7,590 or 2.32 per cent, reflecting strong investor demand.

Gold Prices Also Rise

Gold prices followed a similar upward trend. The February 5 delivery gold contract closed at ₹1,56,341 per 10 grams on Thursday and opened higher on Friday at ₹1,58,889 per 10 grams.

In early trade, gold hit an intraday high of ₹1,59,226 and a low of ₹1,57,011. By 10:30 AM, the yellow metal was trading at ₹1,58,101 per 10 grams, registering a gain of ₹1,760 or 1.13 per cent.

Market Sentiment

The renewed rally comes after a one-day correction and indicates continued investor interest in precious metals amid global uncertainties and fluctuating currency movements. Analysts say volatility may persist in the near term, keeping gold and silver prices in focus.