Editor’s Note
After a period of significant volatility, the bullion market saw a sharp rebound on Monday, with both gold and silver prices rising sharply. This surge has heightened activity among investors and traders, marking a notable shift in market dynamics.
Following last week’s heavy volatility, the bullion market witnessed a strong rally on Monday. Prices of both gold and silver surged simultaneously, intensifying activity among investors and traders.
According to information from the bullion market, silver prices recorded a significant jump of ₹14,800, rising to approximately ₹2.65 lakh per kilogram. Meanwhile, gold prices also increased by about ₹3,050, reaching a level of ₹1.58 lakh per 10 grams.
In early trading, silver on the MCX (Multi Commodity Exchange) was seen trading higher by ₹5,185 at ₹2.49 lakh per kg. Gold rose by ₹3,428 to reach ₹1.55 lakh per 10 grams.
Strength was also seen in precious metals in Asian markets. Spot gold rose by about 1.18% to reach $5,040 per ounce. Spot silver gained 3.39% and was seen trading around $79.89 per ounce.
However, despite the current rally, both gold and silver remain below their record highs. Gold is down about 11% from its all-time high, while silver has slipped significantly from the peak level reached in January.
Investors are now awaiting employment and inflation data from the United States. These figures could provide clues about the Federal Reserve’s upcoming monetary policy, which will have a direct impact on precious metal prices.
The reasons for the decline in gold and silver last week were profit-booking, a stronger US dollar, and rising bond yields. However, in the current situation, international politics and economic data will determine the future direction.
