Gold Futures See New Record Of Rs 1,35,496/10 Grams
Silver also witnessed robust buying. The white metal for the March 2026 contract advanced Rs 5,255, or 2.72%, to Rs 1,98,106 per kilogram.
Gold prices climbed Rs 1,874 to hit yet another fresh record of Rs 1,35,496 per 10 grams in futures trade on Monday, tracking firm global cues.
On the Multi Commodity Exchange, gold futures for February delivery jumped Rs 1,874, or 1.4%, to touch a record of Rs 1,35,496 per 10 grams. It had gained Rs 3,160, or 2.42%, over the past week.
Silver also witnessed robust buying. The white metal for the March 2026 contract advanced Rs 5,255, or 2.72%, to Rs 1,98,106 per kilogram, but stayed below its lifetime high of Rs 2,01,615 per kg touched on Friday.
The metal had skyrocketed Rs 9,443, or 5.15%, over the past week.
"This week is important as, along with Fed officials' speech, preliminary manufacturing and services PMI, US jobs, and CPI data could trigger volatility in the market," Manav Modi, Commodities Analyst at Motilal Oswal Financial Services Ltd., said.
In the international markets, Comex gold futures for February delivery increased by $52.2, or 1.21%, to $4,380.5 per ounce. Over the past week, it rose $85.3, or 2.01%.
Comex silver futures for the March contract climbed by $1.74, or 2.80%, to $63.74 per ounce. It had crossed the $65-per-ounce mark on Friday before easing due to profit booking.
"Silver steadied around $63.5 per ounce, hovering near record highs and up more than 100% year-to-date gains," Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.
He noted that the rally in silver has been supported by tightening inventories, strong industrial demand from solar, electric vehicle and data centre sectors, and silver's inclusion on the US critical minerals list.
Additional support came from strong exchange-traded fund inflows and retail buying.
Renisha Chainani, Head - Research at Augmont, said investors will closely track the upcoming US jobs data due on Tuesday and the consumer price index inflation data scheduled for Thursday.
The data release will further provide clarity on the Federal Reserve's interest rate cycle and the near-term outlook for the bullion prices.
