Gold hits record high crossing ₹1.05 lakh on MCX, silver breaks record

The prices of gold and silver are skyrocketing as Multi Commodity Exchange (MCX) – gold has broken all its previous records and, for the first time, touched a new high of ₹1,05,729 per 10 grams, while silver has also seen a sharp rise and is trading at ₹1,24,990 per kilogram. 

On Monday, the gold contract expiring on October 3 opened at ₹1,03,899 per 10 grams on MCX, and by around noon, it had climbed to ₹1,05,729 — marking a strong gain of ₹1,830 per 10 grams. 

Moreover, silver prices also jumped sharply on the MCX, rising by ₹3,000 per kilogram to touch a new all-time high of ₹1,24,990 per kilogram.

Gold shines in the local market too

Not just on MCX, but gold and silver prices have surged in the local markets as well. According to the rates updated on the website of the Indian Bullion Jewellers Association (IBJA.com), the price of 24-carat gold on August 29 was ₹1,02,388 per 10 grams, but by Monday morning, it had reached ₹1,04,792 per 10 grams. 

This means gold became costlier by ₹2,404 per 10 grams. So far this year, gold prices have risen by ₹28,630. Similarly, silver prices have also increased in the local markets. On Friday, August 29, the price of silver was ₹1,17,572 per kilogram, but as soon as trading opened on Monday, it surged to ₹1,23,250 per kilogram. This indicates that silver became costlier by ₹5,678 per kilogram.