Precious metals sparkle on rising jewellery demand

New Delhi: Gold prices surged by Rs 3,040 to Rs 1,33,200 per 10 grams in the national capital, tracking strong global trends and a weak US dollar, according to the All India Sarafa Association. Analysts said sustained jewellery demand amid the ongoing wedding season supported the precious metal. The precious metal of 99.5 per cent purity zoomed by Rs 3,040 to Rs 1,32,600 per 10 grams. Gold is now inching closer to its all-time high of Rs 1,34,800 per 10 grams (99.9 per cent purity) and Rs 1,34,200 per 10 grams (99.5 per cent), respectively, traders said. Silver continued its upward march for the fifth straight day, surging by Rs 5,800 to Rs 1,77,000 per kilogram, as per the association. In the international market, spot gold rose by $42.29, or 1 per cent, to $4,261.52 per ounce, as the dollar index was quoting 0.19 per cent lower at 99.27, lending support to bullion prices.Rising for the sixth straight day, spot silver gained 2 per cent to hit a fresh record of $57.85 per ounce in the global markets. "Gold extended last week's rally, supported by a softer US dollar, growing expectations of a Federal Reserve rate cut next week, upbeat forecasts from major banks, and continued robust central bank buying, all of which are helping drive the market higher," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said

Silver hits record high in futures trade

Silver futures surged by Rs 3,668 to a fresh record high of Rs 1,78,649 per kilogram while gold prices climbed to Rs 1,30,550 per 10 grams in the domestic markets on Monday, driven by a weak US dollar and growing expectations of an interest rate cut by the US Federal Reserve.On the Multi Commodity Exchange (MCX), the yellow metal futures for February 2026 contract jumped by Rs 1,046, or 0.81 per cent, to Rs 1,30,550 per 10 grams in 12,199 lots.