MCX gold, silver futures hit record highs tracking gains on COMEX
This story was originally published at 11:18 IST on 24 December 2025
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--MCX March silver contract hits new record high of INR 223,742 per kg
--COMEX March silver contract hits new record high of $72.75 per ounce
--MCX Feb gold contract hits new record high of INR 138,676 per 10 gm
MUMBAI – Futures contracts of gold and silver on the Multi Commodity Exchange of India hit record highs Wednesday, tracking gains on COMEX. Bullion prices rose due to a weaker dollar, expectations of further monetary policy easing by the US Federal Reserve, and increased safe-haven demand amid rising geopolitical tensions.
The US continues its efforts to intercept oil tankers off the coast of Venezuela, as Washington intensifies pressure on President Nicolas Maduro's administration. Meanwhile, late Monday, Russian forces attacked Ukraine's Black Sea port, damaging port facilities and a ship, in the second attack on the region in less than 24 hours. A Ukrainian drone attack damaged two vessels, two piers and sparked a fire in a village in Russia's Krasnodar region.
At 1038 IST, the most-active February gold contract on the MCX was up 0.5% at INR 138,650 per 10 grams, after touching a record high of INR 138,676 per 10 grams. The same-month contract on COMEX was up 0.5% at $4,527.7 per ounce, after touching a record high of $4,555.1 per ounce. The precious metal has risen over 70% this year so far on COMEX amid strong investor demand, persistent central bank buying, and global de-dollarisation trends.
Silver prices also rose due to increased safe-haven demand, strong investment flows, robust industrial demand, and structural supply shortages. The metal has now gained over 145% year-to-date, underpinned by robust industrial use in renewables, grid infrastructure, and artificial intelligence-linked technologies.
At 1039 IST, the most-active March silver contract on the MCX was up 1.8% at INR 223,609 per kg, after touching a record high of INR 223,742 per kg. The most-active March contract on COMEX was up 1.6% at $72.29 per ounce, after touching a record high of $72.75 per ounce. End
US$1 = INR 89.74
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Reshma Ravi
Edited by Nishant Maher
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