MCX Gold soars to record high above ₹1.39 lakh/10 grams; Silver rises to lifetime peak over ₹2.32 lakh/kg

On the MCX, yellow metal contracts for the April expiry advanced as much as ₹1,366 or 0.97% to a record high of ₹1,42,836 per 10 grams.

Similarly, silver futures for March delivery gained as much as ₹8,951 or 4% to an all-time high of ₹2,32,741 per kilogram. White metal contracts for the May expiry surged as much as ₹9,105 or 4% to a record high of ₹2,36,757 per kilogram. Silver hit a lifetime high for the fifth consecutive session.

The commodity markets remained closed on Thursday on account of Christmas.

In the international market, Comex Gold (January expiry) rose to an all-time high of $4,542.9 per ounce. Meanwhile, Comex Silver (January delivery) increased to a record high of $74.82 per troy ounce. Comex silver for February delivery crossed the $75 per ounce mark for the first time.

On the geopolitical front, rising tensions between the US and Venezuela, and the US and Nigeria, drove up the prices of the precious metals.

Furthermore, investors are expecting two quarter-point rate cuts by the Federal Reserve in 2026, especially as inflation cools and labour market conditions soften.

Investors continue to price in two quarter-point rate cuts by the Federal Reserve next year as inflation cools and labour market conditions soften, even as Fed officials remain divided on the path ahead.

So far this year, silver has advanced more than 150%, while gold has rallied over 70%, with both precious metals marking their largest annual gains since 1979.