After significant volatility last week, gold and silver prices surged on Monday. According to a bullion website, silver jumped by ₹14,800 to reach ₹2.65 lakh per kilogram, while gold rose by ₹3,050 to ₹1.58 lakh per 10 grams.
In early trading on the MCX, silver was up ₹5,185 at ₹2.49 lakh per kilogram, while gold prices rose by ₹3,428 to ₹1.55 lakh per 10 grams.
International Gold and Silver Prices
During Asian trading hours, spot gold rose by approximately 1.18% to $5,040 per ounce, while spot silver saw a sharp increase of 3.39%, trading at $79.89 per ounce.
However, despite the current surge, both precious metals remain below their record highs. Gold is still about 11.27% below its all-time high of $5,608.35, while silver has fallen approximately 52.29% from its all-time high of $121.67 reached on January 29.
What is the reason for this surge?
The primary reason for the market rally is the decisive election victory of the ruling Prime Minister Sanae Takaichi in Japan. The results have strengthened expectations of a more liberal fiscal policy and put pressure on the yen, both factors considered positive for gold. According to a Bloomberg report, these expectations are supporting demand for precious metals.
Focus on US Data
Investors are now awaiting key economic indicators from the US, which could provide clues about the Federal Reserve's future policy. January's employment figures are expected on Wednesday, which are likely to show signs of stability in the labor market. Inflation data will be released on Friday.
Why did prices fall last week?
Last week, both gold and silver experienced sharp declines. This was due to profit-taking, a stronger US dollar, and rising real yields, which somewhat diminished the appeal of precious metals as a safe-haven investment. Overall, political developments and the direction of US macroeconomic data will continue to play a crucial role in determining the movement of gold and silver in the short term.
ICC Men's T20 World Cup: Could Uganda replace Pakistan? An ICC decision could turn the tables.
Pakistan announced on February 1st that they would participate in the 2026 T20 World Cup, but wou
The T20 World Cup 2026 kicked off with tremendous excitement. The tournament couldn't have asked
Human trafficking is also becoming a major problem in the capital. According to Delhi Police's Zi
"We searched for him all night. We went to every police station, his phone kept ringing, but the
Sri Lanka has announced Lasith Malinga's replacement, including a player with experience in 8 T20Is.
Sri Lanka has announced the replacement for the injured Ehsan Malinga for the T20 World Cup 2026.
Former ICC official Sami ul Hasan Burney has raised sharp questions about the functioning of the
President's Rule, which had been in effect in Manipur for nearly a year, has been lifted. The Uni
The framework for the trade agreement between India and the United States has been released. The
Gold Price Hike: Gold sets a new record, price crosses ₹1.60 lakh; find out the Gold price
Like silver, gold is also seeing a significant surge today. Gold prices had also risen shar
India and the United States have finally reached a trade agreement. Discussions between the two c
