Silver prices surged more than 4% in international markets, breaching the $80-per-ounce mark for the first time in recent sessions, while domestic futures on the Multi Commodity Exchange (MCX) climbed back above Rs 2.6 lakh per kilogram.
Spot silver rose 4.56% to $80.87 per ounce at 5:07 pm IST, supported by aggressive buying interest and strength across precious metals.
On India's Multi Commodity Exchange (MCX), July 2026 silver futures jumped 3.54% to trade at Rs 2,62,238 per kg around 5:08 pm IST, after touching an intraday high of Rs 2,62,443. Open interest trends indicated fresh long build-up, signalling continued bullish positioning by traders.
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Gold prices also moved higher in global markets, aided by softer crude oil prices and persistent safe-haven demand. Spot gold gained 0.94% to trade at $4,735.27 per ounce. On the MCX, gold futures rose 0.6% to trade at Rs 1.53 lakh per 10 gram.
Market participants said the rally in precious metals was being driven by a combination of weaker energy prices, inflation expectations and sustained investor interest in defensive assets amid global macro uncertainty.
Traders will now watch upcoming US economic data and signals from major central banks for further cues on the direction of bullion prices.
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