Markets: Bourses fluctuate but metal prices soar
Virendra Pandit
New Delhi: In the last week of a volatile 2025, silver futures hit a new peak of Rs. 2.32 lakh per kg and its global prices crossed the USD 75-mark, while benchmark Sensex and Nifty50 ended negative on Friday, the media reported.
On the Multi Commodity Exchange (MCX), silver futures for March 2026 contract jumped Rs. 8,951, or 4 percent, to an all-time high of Rs. 2,32,741 per kg
Extending its blistering rally for the fifth straight session, the white metal had gained Rs. 29,176, or 14.33 percent, since December 18.
Besides, gold prices crossed the Rs. 1.39 lakh per 10 grams mark for the first time on the commodities bourse. Rising for the fourth straight session, the yellow metal for February delivery jumped Rs. 1,119, or 0.81 percent, to scale a new lifetime high of Rs. 1,39,216 per 10 grams.
The commodity markets remained closed on Thursday on account of Christmas.
Meanwhile, bullion prices gathered pace as gold and silver hit lifetime highs in the international market. On the Comex, yellow metal futures for February delivery rose USD 58.8, or 1.3 percent, to touch a new peak of USD 4,561.6 per ounce.
Rallying for the fifth straight day, silver futures for March contract increased by USD 3.81, or 5.31 percent, to scale a fresh peak of USD 75.49 per ounce on the Comex. It had settled at USD 71.68 per ounce on Wednesday.
The US blockade of Venezuelan crude shipments, continued hostilities between Russia and Ukraine, and Washington’s recent military strike against ISIS in Nigeria have reinforced safe-haven demand for bullion prices, reports said.
Investors continued to price in two quarter-point rate cuts by the US Federal Reserve next year as inflation cools and labour market conditions soften, even as Fed officials remain divided on the path ahead.
Gold prices have surged more than 70 percent this year, marking its largest annual gain since 1979, with the rally also underpinned by strong central bank buying and sustained exchange traded fund (ETF) inflows.
According to commodity market experts, the record-setting run in bullion could persist in early 2026, supported by easing inflation, a weak dollar, and persistent geopolitical risks that continue to fuel safe-haven demand.
However, volatility continued to affect stock market.
On Friday, benchmark Sensex was down 328.10 points to close at 85,080.60 and Nifty50 lost 87.65 points to close at 26,054.45.
