The bullish momentum in gold and silver continued today, with both metals registering significant gains in early trading on MCX. Silver jumped over ₹21,000, while gold gained ₹5,000, reflecting strong investor demand amid ongoing global uncertainties.
MCX Trading Highlights
- Silver: March delivery silver closed at ₹356,279 per kg in the previous session and opened today at ₹364,821 per kg. It reached an all-time high of ₹377,655 per kg, up ₹21,376 in early trading. By 10:00 AM, silver was trading at ₹376,163 per kg, a 5.58% gain.
- Gold: April delivery gold closed yesterday at ₹167,921 per 10 grams and opened today at ₹171,489, hitting an early high of ₹172,949 per 10 grams, up ₹5,028. At 10:10 AM, gold was trading at ₹171,415 per 10 grams, marking a 2.08% increase.
Reasons Behind the Surge
The ongoing rally in gold and silver is driven by rising demand for safe-haven assets and heightened geopolitical tensions worldwide. Investors are closely watching the US Federal Reserve’s upcoming monetary policy decision. If the Fed signals a pause or reduction in interest rates, precious metals could gain further, as lower bond yields make gold and silver more attractive.
Global Market Trends
Internationally, gold breached $5,200 per ounce on Wednesday, marking a historic high. This surge was fueled by the dollar hitting a four-year low ahead of the Fed’s announcement, along with geopolitical concerns. Spot silver rose 0.6% to $113.63 per ounce, after touching a record $117.69 per ounce earlier this week. So far this year, silver has surged nearly 60%, outperforming most asset classes.
City-Wise Gold Rates (8 grams)
- Delhi: Standard 22K – ₹1,18,872 | Pure 24K – ₹1,29,672
- Mumbai: Standard 22K – ₹1,18,752 | Pure 24K – ₹1,29,552
- Chennai: Standard 22K – ₹1,19,672 | Pure 24K – ₹1,30,552
- Hyderabad: Standard 22K – ₹1,18,752 | Pure 24K – ₹1,29,552
The surge in precious metal prices underscores the growing preference for safe investments in times of economic uncertainty, with both retail and institutional investors closely tracking MCX rates.
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