Gold & Silver Rally on US Shutdown Relief
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Gold and silver futures surge as US government shutdown relief boosts safe-haven demand. MCX gold, silver prices rise. Analyst insights included.
New Delhi, Nov 13 (PTI) Gold and silver prices rallied in futures trade on Thursday driven by firm global cues after the end of the prolonged US government shutdown boosted the demand for safe-haven assets.
Extending the gains for the second day, the yellow metal futures for December delivery rallied by Rs 1,180, or 0.93 per cent, to Rs 1,27,645 per 10 grams, on the Multi Commodity Exchange (MCX).
Similarly, the February 2026 contract appreciated by Rs 1,360, or 1.06 per cent, to Rs 1,29,320 per 10 grams.
Silver futures maintained its winning run for the fifth consecutive session. The white metal for December delivery surged by Rs 3,123, or 1.93 per cent, to Rs 1,65,214 per kilogram.
The March 2026 contract for the white metal skyrocketed by Rs 3,369, or 2.05 per cent, to Rs 1,68,059 per kg on the commodities bourse.
In the overseas markets, Comex gold futures for December delivery gained by USD 23.20, or 0.55 per cent, to USD 4,236.80 per ounce.
"Gold prices hovered around USD 4,200 per ounce on Thursday, remaining at a three-week high, supported by an uncertain US economic outlook and rising investor confidence in additional Federal Reserve easing," Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.
Meanwhile, a budget bill to reopen the government was approved by President Donald Trump on Wednesday, ending the longest closure in US history.
However, the White House warned that October's official jobs and inflation reports may be delayed, key indicators used to gauge the health of the US economy.
"In addition to providing funding for a few important agencies through fiscal year 2026, the agreement creates a new funding cliff in Congress on January 30," Renisha Chainani, Head - Research at Augmont, said.
Comex silver futures for December delivery advanced 1.79 per cent to USD 54.41 per ounce - a new record high.
Analysts said investors sought to protect themselves against global concerns with precious metals, silver surged to above USD 54, to an all-time high and taking this week's gains to about 12 per cent.
The inclusion of silver, copper and metallurgical coal in the US critical minerals list last week also strengthened investor sentiment for precious and industrial metals, they added.
Extending the gains for the second day, the yellow metal futures for December delivery rallied by Rs 1,180, or 0.93 per cent, to Rs 1,27,645 per 10 grams, on the Multi Commodity Exchange (MCX).
Similarly, the February 2026 contract appreciated by Rs 1,360, or 1.06 per cent, to Rs 1,29,320 per 10 grams.
Silver futures maintained its winning run for the fifth consecutive session. The white metal for December delivery surged by Rs 3,123, or 1.93 per cent, to Rs 1,65,214 per kilogram.
The March 2026 contract for the white metal skyrocketed by Rs 3,369, or 2.05 per cent, to Rs 1,68,059 per kg on the commodities bourse.
In the overseas markets, Comex gold futures for December delivery gained by USD 23.20, or 0.55 per cent, to USD 4,236.80 per ounce.
"Gold prices hovered around USD 4,200 per ounce on Thursday, remaining at a three-week high, supported by an uncertain US economic outlook and rising investor confidence in additional Federal Reserve easing," Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.
Meanwhile, a budget bill to reopen the government was approved by President Donald Trump on Wednesday, ending the longest closure in US history.
However, the White House warned that October's official jobs and inflation reports may be delayed, key indicators used to gauge the health of the US economy.
"In addition to providing funding for a few important agencies through fiscal year 2026, the agreement creates a new funding cliff in Congress on January 30," Renisha Chainani, Head - Research at Augmont, said.
Comex silver futures for December delivery advanced 1.79 per cent to USD 54.41 per ounce - a new record high.
Analysts said investors sought to protect themselves against global concerns with precious metals, silver surged to above USD 54, to an all-time high and taking this week's gains to about 12 per cent.
The inclusion of silver, copper and metallurgical coal in the US critical minerals list last week also strengthened investor sentiment for precious and industrial metals, they added.
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