Silver Drops From Record High To Trade Lower By Nearly 3%, Gold Ends Four-Day Rally

Silver prices retreated from record highs to trade lower by nearly 3% at Rs 2.32 lakh per kg in the futures trade on Monday as investors booked profits after sharp gains amid weak global trends.

In a highly volatile session on Monday, silver touched a lifetime high of Rs 2,54,174 per kg in early trade, prompting investors to take profits.

Silver futures plummeted by Rs 7,124, or 2.97%, to hit a low of Rs 2,32,663 per kg on the Multi-Commodity Exchange. In the last week, the white metal soared by 15.04%, or Rs 31,348, on MCX.

Gold opened higher but pared gains due to profit-booking, snapping a four-day rally. Gold futures depreciated Rs 1,497, or 1.07%, to Rs 1,38,376 per 10 grams. It had scaled a fresh peak of Rs 1,40,465 per 10 grams on Friday.

"Gold and silver prices retreated from record highs in the European trading session on Monday as traders booked profit after a record-breaking rally," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

Gandhi further stated that both gold and silver are in overbought territory on higher time frames, which is indicated as a caution sign and a need for healthy correction before the rally continues.

"We expect bullion prices to face further corrective pressure as investors adjust and re-balance positions at month-end and year-end," he said.

On the global front, the March 2026 contract of silver retreated sharply from its record levels. On the Comex, the white precious metal declined by $3.49, or 4.51%, to $73.71 per ounce. Earlier in the session, silver futures breached the $80-per-ounce mark for the first time, reaching a record $82.67 per ounce, up by $5.47, or 7.09%.

Meanwhile, gold for February delivery was trading lower by $72.55, or 1.59%, to $4,480.15 per ounce. In the intraday session, it hit a high of $4,581.3 per ounce. On Friday, the yellow metal had touched a new record of $4,584 per ounce.