Silver prices rise nearly 10,000 today to hit new high; Gold price tops 1.38 lakhs

The global and domestic bullion markets witnessed an unprecedented surge on Wednesday, as both gold and silver shattered all previous records to create new history. In the international market, gold prices crossed the psychological barrier of $4,500 per ounce for the first time, while silver breached the $72 per ounce mark. This meteoric rise is being attributed to global economic shifts and increased demand for safe-haven assets, causing a ripple effect that was felt intensely across Indian markets.

On the Multi Commodity Exchange (MCX), the February 2026 gold contract reached an all-time high of ₹1,38,676 per 10 grams, closing the session at ₹1,38,450. This represents a significant jump from the previous day's close, leaving investors and consumers stunned by the rapid appreciation. In the physical market, the IBJA rates recorded a staggering increase of nearly ₹10,000 throughout the day, reflecting the high volatility and bullish sentiment currently dominating the sector.

Silver followed an even more aggressive trajectory, gaining over 1.78% on the MCX. The March 2025 silver futures surged by ₹3,917 to trade at ₹2,23,570 per kilogram, after hitting an intraday peak of ₹2,24,300. In the international spot market, silver’s climb to $72 per ounce translates to approximately ₹2,28,085 per kilogram, indicating that domestic prices may see further upward corrections in the coming sessions.