Gold and silver prices are on a wild run, leaving buyers and investors stunned. In a single trading session on Friday, silver surged by nearly ₹17,000 per kg on the domestic futures market, while gold also touched fresh lifetime highs. The sharp rally has pushed precious metals firmly into the spotlight, with experts now debating how long this momentum can last.
Silver steals the show on MCX
On the Multi Commodity Exchange (MCX), silver prices saw a dramatic jump. The March futures contract for silver settled around ₹2,40,935 per kg, up ₹17,145 by the close of trade. During the day, silver even spiked close to ₹2.42 lakh per kg — an all-time high.
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This means silver has become one of the fastest-rising assets in the commodity space right now, attracting both retail traders and large investors.
Gold also breaks records
Gold didn’t stay behind. On MCX, February futures for gold climbed to about ₹1,39,940 per 10 grams, gaining around ₹70 by the close. Intraday, prices had jumped nearly ₹1,200, briefly touching record levels.
For buyers tracking daily prices, gold now looks firmly placed near the ₹1.40 lakh mark, something few would have imagined just months ago.
One week, massive gains
The speed of the rally is what’s raising eyebrows.
- On December 19, gold was trading near ₹1,34,196 per 10 grams. In just a week, it gained almost ₹6,000.
- Silver has been even more aggressive. From around ₹2.08 lakh per kg last week, prices have jumped to nearly ₹2.40 lakh — a rise of about ₹32,000 in days.
At these levels, both metals are moving out of reach for many physical buyers.
Why are gold and silver rising so fast?
Several global and domestic factors are working together:
- Global prices at record highs: International gold and silver prices are hovering near lifetime highs, which directly impacts Indian rates.
- Safe-haven buying: With equity markets showing volatility, investors are shifting money into gold and silver for stability.
- ETF inflows rising: Gold and silver Exchange Traded Funds are seeing strong inflows as investors prefer paper assets over physical buying.
- Weak US dollar: The dollar has softened, making precious metals more attractive globally.
- Rate cut expectations: Hopes of interest rate cuts by the Federal Reserve are boosting demand for non-yielding assets like gold.
- Industrial demand for silver: Electronics, solar panels, and green technology are driving strong industrial demand for silver.
- Geopolitical uncertainty: Global tensions, energy market volatility, and ongoing conflicts are pushing investors toward safer assets.
- Central bank buying: Central banks across the world continue to add gold to their reserves, keeping demand firm.
Should investors jump in now?
Market experts believe the long-term outlook for gold and silver remains positive. However, they also warn that such sharp rallies often invite short-term profit booking.
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For small investors, the advice is simple: avoid chasing prices at peaks. Instead of buying physical gold or silver, consider ETFs and invest gradually — weekly or monthly — to average out costs. Over the long run, this disciplined approach can help manage risk while benefiting from the broader uptrend.
The bottom line
Gold and silver are clearly in a powerful phase, backed by global cues and strong investor demand. While short-term corrections are possible, the bigger trend still points upward. For now, precious metals remain one of the most talked-about assets in the market.
