Editor’s Note
This article reports on a significant surge in gold and silver prices on the Multi Commodity Exchange (MCX), highlighting the immediate impact on investor sentiment and market activity.
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On Monday morning, a massive surge was witnessed in the prices of gold and silver in the bullion market. The rates of these precious metals suddenly increased in both domestic and international markets. This not only accelerated the heartbeats of investors but also heated up the market atmosphere.
Both gold and silver opened strongly together on MCX (Multi Commodity Exchange). Notably, gold, which was trading with April delivery, recorded a jump of over ₹2100 per 10 grams in one go. In early trading, the price of gold reached ₹1,57,600 per 10 grams.
Silver did not lag behind either, with the price of silver for March delivery rising by nearly ₹12 thousand, pushing the price of silver to around ₹2,61,704 per kilogram.
A rally was also seen in the prices of precious metals in the international market. During Asian trading, the spot gold price increased by 3.9 percent and reached $4,954.92 per ounce. This surge was part of a recovery following the decline last Thursday, which compensated for heavy losses.
A rally was also seen in silver in the international market. Spot silver took a jump of about 8.6 percent and reached $77.33 per ounce. However, at the beginning of the day, silver had fallen below $65, but later a spectacular recovery was seen.
In the domestic market as well, silver and gold showed a strong advance. The price of silver increased by approximately ₹14,800 and reached the level of ₹2.65 lakh per kilogram. Meanwhile, gold also recorded an increase of ₹3,050 and was seen trading at ₹1.58 lakh per 10 grams.
This surge came suddenly and has reignited enthusiasm among investors to invest in gold and silver again. Following this rally in the market, discussions about the future trend of precious metal prices have intensified.