Both gold and silver prices have witnessed a dramatic upswing, with gold on the Multi Commodity Exchange (MCX) shattering all previous records to reach an unprecedented level of ₹1,05,729 per 10 grams. Silver has also staged a strong rally, trading at ₹1,24,990 per kilogram. This bullish trend is reflected not only in MCX but also across local markets, where both precious metals have experienced sharp increases.
MCX Gold and Silver Prices See Steep Rise
On Monday, gold contracts expiring on 3 October opened on the MCX at ₹1,03,899 per 10 grams, surging to an intraday high of ₹1,05,729 around noon a robust jump of ₹1,830 in a single day. Silver prices on the MCX followed suit, spiking by ₹3,000 per kilogram to reach a new all-time high of ₹1,24,990.
Local Markets Reflect Similar Uptrend
The rally is not limited to the commodity exchange. According to updated rates on the Indian Bullion Jewellers Association (IBJA.Com) website, 24-carat gold was priced at ₹1,02,388 per 10 grams on 29 August. By Monday morning, it climbed to ₹1,04,792 an increase of ₹2,404 in just one session. Since the beginning of this year, gold prices have surged by ₹28,630 per 10 grams. Silver, too, mirrored gold’s momentum. On Friday, 29 August, silver stood at ₹1,17,572 per kilogram in the local market; by Monday’s opening, it soared to ₹1,23,250 marking a single-session rise of ₹5,678 per kilogram.
