Gold and Silver Prices Surge Amid Economic Uncertainty

Gold and silver prices surged in futures trade driven by firm global cues and the end of the US government shutdown, boosting demand for safe-haven assets. Gains extended for gold and silver futures for December delivery, with records high in overseas markets. US economic outlook remains uncertain.

Gold and silver prices experienced a notable rally in futures trade on Thursday, influenced by firm global indicators following the end of the prolonged US government shutdown. The demand for safe-haven assets has significantly boosted these gains.

The yellow metal futures for December delivery saw an increase of Rs 1,180, or 0.93%, reaching Rs 1,27,645 per 10 grams on the MCX. Similarly, the February 2026 contract rose by Rs 1,360, or 1.06%, culminating at Rs 1,29,320 per 10 grams.

Silver continues its upward trajectory for the fifth consecutive session, with December delivery surging by Rs 3,123, or 1.93%, and March 2026 contracts skyrocketing by Rs 3,369, equating to a 2.05% increase.

In the Comex overseas market, gold futures rose by USD 23.20, supported by economic uncertainties and potential Federal Reserve easing. Comex silver futures for December reached new heights, advancing by 1.79% to USD 54.41 per ounce.

Despite the US government reopening, analysts remain concerned about potential delays in October's jobs and inflation reports. The recent inclusion of silver and other metals in the US critical minerals list has further supported investor sentiment, encouraging the pursuit of precious and industrial metals.

(With inputs from agencies.)