Overview

• MCX silver futures set fresh peaks, with the most-traded December contract hitting Rs 1,28,612 and a far-month March contract touching Rs 1,30,000 per kg.
• Domestic benchmarks logged records on Friday, including All India Sarafa gold at Rs 1,13,800 per 10 grams and Delhi silver at Rs 1,32,000 per kg, while Comex gold traded near $3,694 an ounce.
• Into Saturday, India Bullion Association quotes kept prices near highs with gold around Rs 1,09,800 per 10 grams and silver about Rs 1,28,710 per kg, with MCX shut for the day.
• Analysts cite high odds of a September 17 US Fed rate cut, softer US producer prices, rising jobless claims, and geopolitical tensions as key drivers boosting safe-haven demand.
• Silver’s outperformance reflects tight physical supply and strong industrial demand from solar, EVs, and electronics, with MOFSL forecasting up to Rs 1.5 lakh per kg in 12 months and sector impacts ranging from higher collateral values for gold-loan NBFCs to elevated input costs for jewellers.