Gold, Silver Rates Today: Gold and silver prices extended gains on Monday amid a weak US dollar. Investors awaited a key US labour market report due later in the week to gauge the interest rate trajectory.
Spot gold price rose 1.4% to $5,029.09 per ounce after a near 4% climb on Friday. US gold futures for April delivery gained 1.4% to $5,051.0 per ounce. Spot silver was up 2.86% at $80.25 an ounce, after a 10% gain in the previous session.
The US dollar was at its lowest level since February 4, making greenback-priced metals cheaper for overseas buyers.
Gold prices were also supported by a landslide election victory for incumbent Japanese Prime Minister Sanae Takaichi. Her victory reinforced expectations for looser fiscal policy and sustained pressure on the yen, which would be supportive for gold prices.
Meanwhile, investors expect at least two 25-basis-point rate cuts in 2026, with the first one expected in June. Non-yielding bullion tends to do well in low-interest-rate environments.
In other metals, spot platinum price rose 1.8% to $2,134.18 per ounce, while palladium prices gained 1.8% to $1,737.75.
MCX Gold, Silver Prices
Gold and silver prices on Multi Commodity Exchange of India (MCX) also rallied on Friday. MCX gold rate ended higher by ₹2,979, or 1.96%, at ₹1,55,050 per 10 grams level. MCX silver price jumped by ₹5,684, or 2.33%, to close at ₹2,49,499 per kilogram.
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