{"id":"f-8b070c46fc-3bf0be96-8280-5036-b252-ab86096557b4","title":"Silver, gold futures rally as global rebound, weak dollar lift metals","description":"New Delhi, Feb 9 (PTI) Precious metals surged in the futures trade on Monday, with silver soared nearly 5 per cent to Rs 2","timestamp":1770629044,"category":"business","headline":"Silver, gold futures rally as global rebound, weak dollar lift metals","modifiedHeadline":"Gold, silver prices surge on market rebound","subCategories":["scid_6a7129b0"],"region":"IN","bundleMetaData":{"bundleId":"ece1ae3d-908e-48c7-9e53-a4aa910ee4db","bundleTitle":"Grow Your Money","cardData":null},"iabCategoryId":"81","fcSummary":"precious metals surged in futures trade, with silver jumping nearly 5% and gold climbing, driven by global market rebounds, a weaker US dollar, and renewed investor appetite for safe-haven assets following a historic selloff and positive geopolitical developments.","summary":"Silver, gold futures surge on global rebound & weak dollar, lifting metals prices.","ctaUrl":"https://trends.glance.com/newz/India_News/IN/en/pti/f-8b070c46fc-3bf0be96-8280-5036-b252-ab86096557b4","sourceUrl":"http://www.ptinews.com","bannerImage":"https://g-mob.glance-cdn.com/public/dynamic/720x1280/c66bf112-5896-49ba-8e59-3cbe66a53357.webp","content":"

New Delhi, Feb 9 (PTI) Precious metals surged in the futures trade on Monday, with silver soared nearly 5 per cent to Rs 2.61 lakh per kilogram while gold climbed to Rs 1.57 lakh per 10 grams.

Traders said

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the sharp rise in both metals came on the back of a rebound in global markets, a weaker US dollar and renewed investor appetite for the safe-haven assets.

On the Multi Commodity Exchange (MCX), silver futures for March delivery rallied by Rs 11,853, or 4.74 per cent, to Rs 2,61,745 per kilogram in a business turnover of 6,396 lots.

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Gold futures also witnessed strong buying, with the April contract rising by Rs 2,089, or 1.34 per cent, to Rs 1,57,540 per 10 grams in 8,279 lots on the MCX.

In the international market, silver futures on the Comex advanced USD 4.80, or 6.25 per cent, to USD 81.70 per ounce, while gold climbed to USD 81.69, or 1.64 per cent to USD 5,061.49 per ounce.

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Silver jumped more than 6 per cent towards USD 82 per ounce on Monday, while gold prices rose over USD 5,000 per ounce, their highest level in over a week, supported by a weaker US dollar, Jigar Trivedi, Senior Research Analyst at IndusInd Securities, said.

He added that traders continued to buy the precious metals after a historic selloff that erased nearly half of silver's value.

Investor sentiment also improved following the landslide victory of Prime Minister Sanae Takaichi's ruling coalition in Japan's weekend elections, paving the way for her expansionary fiscal policies, Trivedi said.

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Meanwhile, US and Iran held talks in Oman on Friday to ease geopolitical tensions that lent some stability to global markets, though Tehran maintained its stance on continuing nuclear fuel enrichment.

According to commodities market experts, China's central bank extended its gold buying spree for the 15th consecutive month in January, signalling sustained institutional demand.

Traders are now awaiting key US jobs and inflation numbers this week for cues on the Federal Reserve's monetary policy outlook. US Treasury Secretary Scott Bessent said last week's extreme swings in precious metals was largely driven by speculative activity from Chinese traders. PTI HG HG DR

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Silver, gold futures rally as global rebound, weak dollar lift metals

SUMMARY