Gold and silver prices rallied sharply in futures trade amid a weak US dollar and rising geopolitical tensions. On Multi Commodity Exchange, gold surged by Rs 2,885 per 10 grams to hit an intraday high, while silver touched a fresh lifetime peak of Rs 3,39,927 per kg.
Gold Jumps Rs 2,885 on MCX, Silver Hits Fresh Record High
New Delhi: Precious metal prices saw a sharp rise in futures trading on Friday. Amid a weak US dollar and rising geopolitical tensions, both gold and silver reached near all-time highs. The February 5 gold contract on the Multi Commodity Exchange (MCX) saw a significant jump.
The February gold contract on MCX opened at ₹1,58,889, up ₹2,548 from its previous close of ₹1,56,341 per 10 grams. During trading, it further increased, reaching an intraday high of ₹1,59,226. Gold gained a total of ₹2,885, or about 1.84 percent. At the last report, gold was trading at ₹1,58,100, up ₹1,759.
Gold prices slip on first day of the week; Silver also sees decline
Meanwhile, the gold contract for April 2026 delivery saw a slight decline, falling ₹2,364, or 1.47 percent, to trade at ₹1,67,195 per 10 grams.
Silver futures for March 5, 2025, also opened strong. Silver opened at ₹3,33,333 against its previous close of ₹3,27,289 and quickly reached a new record high of ₹3,39,927 per kilogram, a jump of ₹12,638. Later, due to profit-booking, silver traded at ₹3,34,800, still up ₹7,511, or 2.87 percent.
Gold prices remained firm in the international market as well. Gold prices on COMEX rose by about 0.91 percent to $4,958.2 per troy ounce. Spot gold was trading at $4,956.72 per ounce, up 0.96 percent.
Gold falls from record highs as geopolitical tensions ease; Silver slightly up
In Delhi, 24-carat gold was priced at ₹1,59,860 per 10 grams, and 22-carat gold at ₹1,46,550 per 10 grams.
In Mumbai and Kolkata, 24-carat gold was priced at ₹1,59,710 and 22-carat gold at ₹1,46,400 per 10 grams.
In Chennai, 24-carat gold was priced at ₹1,59,820 and 22-carat gold at ₹1,46,500 per 10 grams.
Silver remained at ₹340,000 per kilogram in Delhi, Mumbai, and Kolkata, while in Chennai, it was recorded at ₹360,000 per kilogram.
