Gold Rate Surges Over ₹2,400 on MCX; Silver Jumps Over 4% Amid Global Uncertainties

Market Performance

Gold and silver prices opened the week with sharp gains, reflecting a rush toward safe-haven assets amid growing global uncertainties. On Monday, January 12, precious metals witnessed record highs on the Multi Commodity Exchange (MCX), signaling heightened investor interest.

• MCX Gold February Futures: ₹1,41,250 per 10 grams, up ₹2,400 (1.8%)
• MCX Silver March Futures: ₹2,63,996 per kg, up over 4%

International markets echoed this trend, with gold crossing the $4,600-per-troy-ounce mark for the first time. U.S. February gold futures reached $4,612.40 per ounce, reflecting the global appetite for safety in times of geopolitical and economic uncertainty.

Main News

Investors flocked to gold and silver as the dollar weakened and concerns around geopolitical tensions intensified.

• Dollar Index: Fell by around 0.20%, adding momentum to gold’s rise.
• Global Influences: Tensions in Latin America, the Middle East, and recent conflicts heightened demand for precious metals.
• U.S. Fed Rate Outlook: Growing expectations of potential rate cuts this year provided additional support for gold.

Silver, while primarily a safe-haven asset like gold, also benefits from industrial demand, particularly in green technologies and manufacturing.

Company & Commodity Details

MCX futures revealed the strength of these trends in domestic markets:

• Gold: February contracts surged to ₹1,41,250 per 10 grams.
• Silver: March contracts hit ₹2,63,996 per kg, marking fresh record highs.

Internationally, gold prices continue to break thresholds as investors respond to both currency movements and geopolitical risk factors. The dollar’s decline against major currencies played a key role in boosting the appeal of precious metals.

Summary

Monday’s trading session highlighted the ongoing allure of precious metals as safe-haven investments. Key takeaways from the day include:

• Gold rose ₹2,400 on MCX, reaching ₹1,41,250 per 10 grams.
• Silver jumped over 4% to ₹2,63,996 per kg on the MCX.
• Global gold prices surpassed $4,600 per troy ounce.
• Decline in the dollar and geopolitical tensions remain primary drivers.
• Industrial demand supports silver’s strong pricing.

As markets remain sensitive to global developments, gold and silver continue to attract investor attention, showcasing their enduring role in preserving wealth during uncertain times.

Source: Livemint