Gold, silver futures soar to fresh all-time high
Gold, silver futures soar to fresh all-time high
New Delhi: Gold prices breached the Rs 1.20 lakh per 10 grams mark for the first time in the domestic futures trade on Monday, rising by Rs 1,962 on strong global trends amid the growing acceptance for additional rate cuts by the US Federal Reserve.
Analysts said the ongoing US government shutdown and rising trade and geopolitical tensions are also boosting demand for the safe-haven asset. Gold futures for December delivery appreciated by Rs 1,962, or 1.66 per cent, to hit a record high of Rs 1,20,075 per 10 grams.
Similarly, the February 2026 contract extended the rally to the seventh session, jumping by Rs 2,017, or 1.69 per cent, to hit a fresh peak of Rs 1,21,350 per 10 grams. Last week, the yellow metal futures had surged by Rs 3,222 per 10 grams or 2.8 per cent.
Silver futures also witnessed robust traction on Monday. The white metal prices soared by Rs 2,233, or 1.53 per cent, to hit a lifetime high of Rs 1,47,977 per kg on the MCX. The March 2026 contract of silver zoomed by Rs 2,337, or 1.59 per cent, to hit a record peak of Rs 1,49,605 per kg.
Silver futures also witnessed a strong rally last week. It had bounced by Rs 3,855 per kg or 2.72 per cent. Comex gold futures for December delivery climbed nearly 2 per cent to hit a new peak of $3,973.60 per ounce. Comex silver futures advanced more than 1 per cent to hit a high of $48.58 per ounce, their highest since April 2011.
“Investors will closely track remarks from Fed Governor Stephen Miran on Wednesday, the release of Federal Open Market Committee (FOMC) minutes, and Chair Jerome Powell’s speech on Thursday for further policy signals.
“Beyond macro factors, silver drew support from tightening supply conditions, with the Silver Institute projecting a global market deficit for a fifth consecutive year in 2025,” he added.
According to brokerage firm Axis Securities, Comex silver futures remained firm and are inching closer to the psychological barrier of $50 per ounce, reflecting strong investor interest across the bullion complex.
