In a stunning market turnaround, gold and silver prices exploded higher on Monday, driven by robust domestic and international demand. Data from the India Bullion and Jewellers Association shows silver vaulting Rs 8,736 per kg to a lofty Rs 2,53,665, reversing Friday’s Rs 2,44,929 close. 24-carat gold mirrored the enthusiasm, gaining Rs 2,798 to hit Rs 1,54,876 per 10 grams from Rs 1,52,078.
The upward trajectory extended across variants: 22-carat gold settled at Rs 1,41,866 per 10 grams (previously Rs 1,39,303), and 18-carat at Rs 1,16,157 (from Rs 1,14,059). MCX futures amplified the surge, with gold April 2026 up 0.68% to Rs 1,56,510 and silver March 2026 advancing 1.42% to Rs 2,53,452.
Overseas, Comex traders piled in, lifting gold 0.82% to $5,020/oz and silver 2.55% to $78/oz. This synchronized global move underscores precious metals’ resilience as an inflation hedge.
Choice Wealth’s Akshat Garg dissected the silver volatility: ‘Sharp short-term rallies often trigger corrections, worsened by dollar appreciation and de-escalating tensions.’ Yet, his advice is clear: ‘Silver’s volatile charm persists; recent dips won’t derail its promising long-term path. Investors should hold steady.’
This rally could reshape market dynamics, boosting exporter confidence and retail sentiment. With wedding seasons looming, demand pressures may sustain the momentum. Analysts predict sustained highs unless major economic data intervenes.