Gold and Silver Break Records as Market Opens; Prices Skyrocket

New Delhi (The Uttam Hindu): After profit booking on Friday, gold and silver prices surged dramatically on Monday, the first trading day of the week, in the Indian futures market (MCX). As the market opened, precious metals raced ahead, breaking all previous records. Gold prices jumped by over ₹2,300, while silver soared by more than ₹5,800, reaching their all-time high levels.

Experts point to multiple factors behind this record rally. Rising trade tensions between the US and China, along with reduced physical supply, are driving investors back to safe-haven assets like gold and silver.

Gold Hits New High

Gold prices on the Multi Commodity Exchange (MCX) reached a historic peak during the trading session, climbing ₹2,316 to touch ₹1,23,680 per 10 grams. At 10:06 AM, gold was trading at ₹1,23,325, up ₹1,961 from the previous close of ₹1,21,364 per 10 grams on Friday.

Silver Soars to Record Levels

Following gold’s trend, silver also surged dramatically. In the futures market, silver prices jumped ₹5,856 to reach ₹1,52,322 per kilogram, setting a new all-time high. At 10:10 AM, silver was trading at ₹1,51,606, up ₹5,140 from Friday’s close of ₹1,46,466 per kilogram.

Why Are Prices Surging?

Anuj Gupta, Director at Ya Wealth, attributes this unprecedented rally to two major reasons. First, escalating trade tensions between the US and China have created global market uncertainty, prompting investors to shift away from risky assets like equities toward safe-haven metals like gold and silver. Second, a reduction in physical supply of gold and silver has further fueled price gains. Gupta also predicts that this rally could continue, with gold potentially reaching ₹1.30 lakh per 10 grams and silver ₹1.55 lakh per kilogram by the upcoming Dhanteras festival.

Investors Enjoy Exceptional Returns in 2025

The year 2025 has proven highly profitable for gold and silver investors. Gold prices, which were ₹76,748 per 10 grams on 31 December 2024, have surged by ₹46,932, marking a 61% increase so far. Silver has performed even better, offering nearly a 75% return, rising from ₹87,233 per kilogram at the start of the year to ₹1,52,322 per kilogram, making it a highly rewarding investment.