Patna: India’s bullion market witnessed an unprecedented spike on Thursday, with both gold and silver breaking historic records as investors rushed toward safe-haven assets amid global instability. Silver prices on the Multi Commodity Exchange (MCX) crossed Rs 4 lakh per kilogram for the first time, while gold soared to a new all-time high of Rs 1.8 lakh per 10 grams.
Silver’s Surge
Silver saw a remarkable jump in futures trading, with the March contract rising by Rs 22,090, or 5.73%, to Rs 4,07,456 per kilogram. Analysts attribute the surge to increasing industrial demand, which has amplified silver’s appeal relative to gold.
Gold Reaches Historic Peak
Gold also witnessed record gains, with February futures climbing by Rs 14,586 to Rs 1,80,501 per 10 grams on MCX. Internationally, gold on the COMEX crossed $5,600 per ounce, reflecting a broader global trend.
Drivers of the Rally
Market experts point to three main factors behind the historic price jumps:
- Geopolitical tensions: Rising threats of conflict and economic uncertainty have driven investors toward precious metals.
- Weak US dollar: A declining dollar has made gold and silver more affordable for global buyers.
- Central bank activity: Worldwide, central banks are increasing gold reserves to fortify their currencies.
Annual Returns
This year alone, silver has surged over 60%, while gold has appreciated roughly 27%. For context, gold delivered a 64% return in 2025, underscoring the continued demand for safe-haven investments. Analysts suggest that the trend may persist if geopolitical and economic uncertainties continue.
