New Delhi: Gold and silver prices regained momentum on Diwali as investor sentiment turned bullish again, with many looking at value buying opportunities after a short-lived correction from record highs. The rise was driven by safe-haven demand amid global geopolitical tensions and hopes of monetary easing in major economies.
On the Multi Commodity Exchange (MCX), gold futures for December delivery climbed Rs 982 or 0.77 percent to Rs 1,27,990 per 10 grams in active trading. This comes after the metal touched an all-time high of Rs 1,32,294 per 10 grams last Friday before retreating. Gold for February 2026 delivery also gained Rs 1,680 or 1.31 percent to Rs 1,29,743.
Silver Joins the Diwali Rally
Silver prices mirrored gold’s upward movement. Silver futures for December delivery surged Rs 1,522 or 0.97 percent to Rs 1,58,126 per kilogram, following a sharp weekly rise of Rs 10,138 or 6.92 percent. The March 2026 contract also gained Rs 1,292 to Rs 1,59,361. Both contracts had hit fresh lifetime highs in recent sessions, supported by industrial demand and limited global supply.
Analysts noted that the sharp rally in both metals over the past week reflects renewed investor interest in safe assets during times of uncertainty.
Global Cues and Safe-Haven Support
In international markets, gold futures on Comex for December delivery advanced by USD 62.46 or 1.48 percent to USD 4,275.76 per ounce, after hitting a record USD 4,392. Silver followed suit, gaining 1.50 percent to USD 50.85 per ounce, having touched a high of USD 53.76 earlier in the week.
According to Riya Singh, Research Analyst at Emkay Global, gold has surged over 65 percent this year, supported by central bank purchases, ETF inflows, and anticipation of US monetary easing. The weakening dollar and speculation about rate cuts are also lifting bullion's appeal.
Outlook Remains Positive Despite Volatility
Despite recent corrections caused by improving US trade ties and credit sentiment, experts believe the broader trend remains strong. Ongoing geopolitical risks, central bank support, and possible rate cuts are expected to keep gold and silver prices well-supported in the coming weeks.
