Precious metal markets erupted on Monday with silver leading the charge, posting a staggering Rs 8,736 per kg increase to Rs 2,53,665 per kg, according to the India Bullion and Jewellers Association. This marks a significant rebound from Friday’s Rs 2,44,929 level. Gold prices also rallied impressively, with 24-carat purity metal advancing Rs 2,798 to Rs 1,54,876 for 10 grams.
Lower purities saw proportional gains: 22-carat gold reached Rs 1,41,866 per 10 grams, up from Rs 1,39,303, and 18-carat stood at Rs 1,16,157 from Rs 1,14,059. The momentum spilled over to derivatives trading on MCX, where gold contracts for April 2026 climbed 0.68% to Rs 1,56,510, and silver for March 2026 rose 1.42% to Rs 2,53,452.
Internationally, the rally gained steam with Comex gold up 0.82% at $5,020 per ounce and silver soaring 2.55% to $78 per ounce. This global uptick reflects heightened safe-haven buying amid lingering geopolitical risks and inflation fears.
Analyst Akshat Garg from Choice Wealth highlighted silver’s choppy nature. ‘Recent short-term surges led to pullbacks, exacerbated by a stronger dollar and reduced global tensions,’ he explained. However, he reassured investors: ‘Don’t panic—this asset class thrives on volatility, and the long-term trajectory remains positive.’
As prices stabilize at these elevated levels, implications for India’s jewellery sector are profound. Manufacturers may adjust margins, while investors eye further upside. Stay tuned for tomorrow’s trading session, which could set the tone for the week.