Gold, Silver Rally Sharply After Volatile Week; Silver Jumps ₹14,800 Per Kg

Following last week's significant volatility, the bullion market witnessed a sharp rally on Monday. Both gold and silver prices surged simultaneously, creating a stir among investors and traders.

According to information from the bullion market, silver prices surged by ₹14,800, reaching nearly ₹2.65 lakh per kg. Gold prices also rose by approximately ₹3,050, reaching ₹1.58 lakh per 10 grams.

In early trade, silver rose ₹5,185 on the MCX to trade at ₹2.49 lakh per kg. Gold rose ₹3,428 to reach ₹1.55 lakh per 10 grams.

Precious metals also saw strength in Asian markets. Spot gold rose approximately 1.18% to $5,040 per ounce. Spot silver rose 3.39% to trade around $79.89 per ounce.

However, despite the current rally, both gold and silver remain below their record highs. Gold is down nearly 11% from its all-time high, while silver has fallen significantly from its January peak.

According to market experts, expectations of liberal economic policies have increased following the election victory of Japanese Prime Minister Sanae Takaichi. This pressure has put pressure on the yen and investors have shifted back to safe-haven investments, supporting gold and silver.

Investors are now awaiting employment and inflation data from the US. These data may provide clues to the Federal Reserve's upcoming monetary policy, which will directly impact precious metal prices.

Last week, gold and silver prices fell due to profit-booking, a strengthening dollar, and rising bond yields. However, in the current situation, international political and economic data will determine the future movement.