New Delhi: Gold and silver prices regained their shine on Monday, rebounding in the domestic futures market as investors turned to value buying after a brief pullback from record highs. Renewed demand for safe-haven assets amid global geopolitical and economic uncertainties also buoyed sentiment.

Gold regains momentum after brief correction

On the Multi Commodity Exchange (MCX), gold futures for December delivery climbed ₹982, or 0.77 per cent, to ₹1,27,990 per 10 grams in a business turnover of 14,913 lots. The yellow metal had surged to an all-time high of ₹1,32,294 per 10 grams on Friday before closing lower at ₹1,27,008 per 10 grams, snapping a five-day winning streak.

Gold contracts for February 2026 also gained ₹1,680, or 1.31 per cent, to ₹1,29,743 per 10 grams across 1,862 lots. In the previous session, the contract had hit a lifetime high of ₹1,34,024 per 10 grams.

Overall, gold futures rose by ₹5,644, or 4.65 per cent, last week, reflecting strong investor sentiment as global uncertainties persisted.

Silver follows gold’s lead

Silver futures joined the rally, recovering from recent corrections. On MCX, December delivery of silver jumped ₹1,522, or 0.97 per cent, to ₹1,58,126 per kilogram with a turnover of 23,985 lots. The metal had earlier touched a record high of ₹1,70,415 per kilogram.

The March 2026 contract advanced ₹1,292, or 0.82 per cent, to ₹1,59,361 per kilogram across 5,787 lots. In the previous session, it had scaled a peak of ₹1,72,350 per kilogram.

Over the past week, silver has gained ₹10,138, or 6.92 per cent, supported by industrial demand and ongoing supply constraints.

Safe-haven demand supports global rally

Analysts attributed the uptrend to a mix of geopolitical risks, economic uncertainty, and expectations of monetary easing by the US Federal Reserve. Renewed buying interest was also seen in international markets after a short correction.

On the Comex exchange, gold futures for December delivery rose USD 62.46, or 1.48 per cent, to USD 4,275.76 per ounce, after touching an all-time high of USD 4,392 per ounce on Friday.

“Gold has surged more than 65 per cent so far this year, buoyed by a potent mix of central-bank buying, robust ETF inflows, and aggressive positioning on expectations of US monetary easing,” said Riya Singh, Research Analyst, Commodities and Currency, Emkay Global Financial Services.

She added that a weaker US dollar and growing speculation that the US Federal Reserve may announce an outsized rate cut before the end of the year have strengthened the outlook for bullion.

Silver steady despite ETF slowdown

Silver also posted modest gains on Comex, up 1.50 per cent at USD 50.85 per ounce after a volatile week. The metal had previously hit a record USD 53.76 per ounce before sliding nearly 6 per cent, its sharpest fall in six months.

“Silver has also gained substantially, though ETF inflows into the white metal have started to plateau, suggesting some fatigue in that segment,” Singh noted.

Analysts see positive outlook for bullion

According to commodities market experts, last week’s correction in gold and silver was largely technical, following easing concerns over US credit conditions and improved trade signals between Washington and Beijing, which reduced immediate safe-haven demand.

Investor confidence was also bolstered after remarks by US President Donald Trump helped ease trade tensions, while upbeat earnings from American banks pushed equities higher, briefly weighing on gold’s appeal.

Despite intermittent corrections, analysts maintain a bullish outlook for precious metals. “The broader outlook for bullion remains positive. Gold and silver are likely to stay supported in the coming weeks amid persistent geopolitical uncertainty, sustained central bank buying, and expectations of further monetary easing,” said another market expert.

Conclusion

With both global and domestic factors aligning in favour of precious metals, analysts expect gold and silver prices to remain elevated in the near term. Investors are advised to monitor cues from US monetary policy announcements and international trade developments for short-term movements.