Gold hits fresh February high; silver trades near Rs 3 lakh per kg
Gold prices surged past the Rs 1.60 lakh mark in the Delhi spot market on February 24, even as futures traded slightly lower on the Multi Commodity Exchange of India (MCX) during early trade.
Gold futures for April delivery were quoted at Rs 1,60,990, down Rs 608 or 0.38 per cent in morning trade. In contrast, silver futures for March rose by Rs 506, or 0.19 per cent, to Rs 2,65,839 per kg at 9:05 am.
In the physical market, 24K gold in Delhi climbed to Rs 1,61,510 per 10 grams, surpassing the previous February peak of Rs 1,60,730. The rally reflects strong retail and investment demand amid global price volatility.
22K gold in the national capital traded at Rs 1,48,050 per 10 grams, while 18K gold rose to Rs 1,21,160 per 10 grams, up Rs 155 from the previous session.
Silver prices
Silver traded around Rs 3,00,100 per kg on February 24, marking a marginal rise from the previous session. Spot silver prices remained uniform across major metros, hovering slightly above the Rs 3 lakh mark per kg.
Higher buying interest was reported in Mumbai and Delhi, while Kolkata and Bengaluru mirrored the broader national trend.
Global bullion trends
On the COMEX, gold was trading at $5,180.60 per ounce, down 0.86 per cent in morning trade. Silver stood at $86.02 per ounce, declining 0.64 per cent.
Meanwhile, the Indian Bullion Jewellers Association pegged 24-carat gold of 999 purity at Rs 1,58,428 per 10 grams, reflecting a 2.58 per cent rise. Silver of 999 purity was quoted at Rs 2,64,075 per kg.
Market experts attribute the volatility to fluctuating global prices, currency movements and sustained domestic demand, particularly amid the ongoing wedding and investment season.
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