Key Points
- Gold futures on MCX rose by ₹320 to ₹98,138 per 10 grams, reflecting robust demand and increased speculative activity.
- Silver futures soared to an all-time high of ₹1,14,875 per kg before settling at ₹1,14,521, driven by heavy trading volumes and global cues.
- Global gold prices touched a three-week peak, with spot gold at $3,358.72 an ounce and silver at $39.05 an ounce.
- Safe-haven demand amid global trade tensions and tariff threats has fueled the rally in precious metals.
- Analysts point to continued volatility and high trading interest as key factors behind the surge.
New Delhi: On Monday, gold futures for August delivery on the Multi Commodity Exchange (MCX) surged by ₹320, or 0.33%, to reach ₹98,138 per 10 grams. Trading volumes were robust, with 12,393 lots exchanged, reflecting heightened speculative interest and strong spot demand. This rally aligns with a broader uptick in global gold prices, as spot gold in New York climbed 0.09% to $3,358.72 an ounce, its highest level in three weeks.
Analysts attribute the rise to fresh deals by market participants, as well as renewed safe-haven buying amid escalating global trade tensions. U.S. President Donald Trump’s threats of steep tariffs on imports from the European Union and Mexico have spurred investor caution, pushing more capital into gold as a protective asset.
Gold Price Snapshot (July 14, 2025)
| Location | 24K Gold (10g) | 22K Gold (10g) |
|---|---|---|
| Mumbai | ₹98,310 | ₹90,118 |
| New Delhi | ₹98,140 | ₹89,962 |
| MCX Futures | ₹98,138 | — |
Gold prices as of 10:40 AM IST on July 14, 2025.
Silver Futures Hit All-Time High: Heavy Trading and Global Factors
Silver futures for September delivery on MCX skyrocketed to a record ₹1,14,875 per kg in early trade, later easing slightly to ₹1,14,521 still up by ₹1,520 or 1.35% for the day. Trading activity was intense, with 22,695 lots changing hands. The surge mirrors a global rally, as silver prices in New York jumped 1.68% to $39.05 an ounce.
The sharp move in silver is linked to both speculative bets and its dual role as a precious and industrial metal. Ongoing geopolitical risks, coupled with a steady rupee-dollar exchange rate and firm international trends, have kept investor interest high.
Silver Price Snapshot (July 14, 2025)
| Location | Silver Price (per kg) |
|---|---|
| Delhi | ₹1,14,470 |
| Mumbai | ₹1,14,660 |
| Chennai | ₹1,15,000 |
| MCX Futures | ₹1,14,875 (high) |
What’s Fueling the Bullion Boom?
- Global Trade Tensions: Heightened by new tariff threats from the U.S., prompting investors to seek safe-haven assets like gold and silver.
- Speculative Activity: Increased trading volumes and fresh contracts on MCX have amplified price movements.
- Strong Spot Demand: Both retail and institutional buyers are actively participating amid inflation fears and currency fluctuations.
- Industrial Demand for Silver: Silver’s use in electronics and renewables adds to its investment appeal, especially during periods of economic uncertainty.
Analyst Outlook and Investor Tips
- Expect Continued Volatility: With global uncertainties unresolved, prices may remain elevated and erratic in the near term.
- Diversification Strategy: Precious metals continue to play a key role in hedging against inflation and market shocks.
- Monitor Global Developments: Policy changes, especially regarding tariffs and central bank actions, will be critical for future price trends.
Conclusion
Gold and silver have once again taken center stage in the commodities market, with both metals hitting significant milestones on the MCX and global exchanges. As investors navigate turbulent economic waters, the appeal of precious metals as safe-haven assets remains strong, promising continued action in the days ahead.
