New Delhi, January 6, 2026, 07:36 (IST)
- MCX March silver jumped about 4% on Monday, rising roughly 10,000 rupees per kg and nearing the 250,000 mark
- MCX February gold gained about 1.75% to around 138,140 rupees per 10 grams
- Global bullion climbed after U.S. strikes in Venezuela boosted safe-haven demand
Silver futures on India’s Multi Commodity Exchange jumped about 10,000 rupees a kilogram on Monday, brushing an intraday high of 249,900 rupees. Gold futures rose 1.75% to around 138,140 rupees per 10 grams in the same session, data cited by Jagran showed.
The rally tracked a global surge in precious metals after U.S. strikes in Venezuela pushed investors toward safe-haven assets. “The situation around Venezuela has clearly reactivated safe-haven demand,” said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. Spot gold rose 2.7% to $4,444.52 an ounce and silver jumped 5.2% to $76.37, with platinum and palladium also rallying. Reuters
For Indian buyers, the jump pulls domestic bullion back toward the record highs hit in December, lifting costs for jewellers and retail purchasers. Both metals remain below their December 2025 peaks of 140,465 rupees per 10 grams for gold and 254,174 rupees per kg for silver, Mint reported.
By early Tuesday, bullion benchmark rates in India were quoted at 138,600 rupees per 10 grams for 24-carat gold and 246,390 rupees per kg for silver. On MCX, gold and silver were trading around 138,148 and 246,135, respectively, according to Bullions.co.in.
In Patna, 24-carat gold was quoted at 138,270 rupees per 10 grams and silver at 245,810 rupees per kg on Tuesday, Bullions.co.in data showed.
The Venezuela shock began over the weekend, when U.S. forces captured President Nicolas Maduro in a raid and President Donald Trump said Washington would put the country under temporary American control. Trump also said major U.S. oil companies would move into Venezuela to refurbish degraded infrastructure, according to a Reuters account of his remarks.
Maduro faces U.S. charges that include narco-terrorism conspiracy and cocaine importation conspiracy, along with weapons-related counts, according to a Reuters summary of the indictment. He is expected to argue he is immune from prosecution as a foreign head of state, the report said.
On MCX, the March 2026 silver contract opened at 244,000 rupees per kg on Monday versus a previous close of 236,316, data from India Infoline showed. The session high was 249,900.
But bullion markets have been prone to sharp pullbacks after headline-driven rallies. A quick easing in geopolitical tensions or a shift in expectations for U.S. interest rates could trigger profit-taking in both metals.
Gold is typically quoted per 10 grams in India, while silver is priced per kilogram. Domestic prices often track global moves but can diverge as local premiums, taxes and logistics costs change across cities.
