MCX gold futures rose 1.4 per cent to a record high of Rs 1,35,496 per 10 grams,
Silver jumped 2.72 per cent but stayed below its lifetime high
Analysts flagged US jobs, CPI data and Fed commentary this week as key triggers that could shape near-term bullion price movements
Gold Futures Hit Fresh Record Of Rs 1,35,496/10g
Gold and silver surged to near-record levels in futures trade, buoyed by strong global cues and expectations ahead of key US economic data
Summary
Advertisement
Gold prices climbed Rs 1,874 to hit yet another fresh record of Rs 1,35,496 per 10 grams in futures trade on Monday, tracking firm global cues.
On the Multi Commodity Exchange (MCX), gold futures for February delivery jumped Rs 1,874, or 1.4 per cent, to touch a record of Rs 1,35,496 per 10 grams. It had gained Rs 3,160, or 2.42 per cent, over the past week.
Silver also witnessed robust buying. The white metal for the March 2026 contract advanced Rs 5,255, or 2.72 per cent, to Rs 1,98,106 per kilogram, but stayed below its lifetime high of Rs 2,01,615 per kg touched on Friday.
The metal had skyrocketed Rs 9,443, or 5.15 per cent, over the past week.
"This week is important as, along with Fed officials' speech, preliminary manufacturing and services PMI, US jobs, and CPI data could trigger volatility in the market," Manav Modi, Commodities Analyst at Motilal Oswal Financial Services Ltd, said.
Advertisement
In the international markets, Comex gold futures for February delivery increased by USD 52.2, or 1.21 per cent, to USD 4,380.5 per ounce. Over the past week, it rose USD 85.3, or 2.01 per cent.
Comex silver futures for the March contract climbed by USD 1.74, or 2.80 per cent, to USD 63.74 per ounce. It had crossed the USD 65-per-ounce mark on Friday before easing due to profit booking.
"Silver steadied around USD 63.5 per ounce, hovering near record highs and up more than 100 per cent year-to-date gains," Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.
He noted that the rally in silver has been supported by tightening inventories, strong industrial demand from solar, electric vehicle and data centre sectors, and silver's inclusion on the US critical minerals list.
Additional support came from strong exchange-traded fund inflows and retail buying.
Advertisement
Renisha Chainani, Head - Research at Augmont, said investors will closely track the upcoming US jobs data due on Tuesday and the consumer price index (CPI) inflation data scheduled for Thursday.
The data release will further provide clarity on the Federal Reserve's interest rate cycle and the near-term outlook for the bullion prices.
Show comments
Published At: