India, Feb. 9 -- Precious metals rallied sharply in futures trade on Monday, tracking a rebound in global markets, a weaker US dollar, and renewed demand for safe-haven assets. Silver prices surged nearly 5 per cent, while gold also recorded strong gains.
On the Multi Commodity Exchange (MCX), silver futures for March delivery jumped by Rs 11,853, or 4.74 per cent, to Rs 2,61,745 per kilogram, with a business turnover of 6,396 lots. Gold futures climbed to around Rs 1.57 lakh per 10 grams during the session.
Market participants said the rally in precious metals was driven by improving global risk sentiment, a retreat in the US dollar, and increased investor preference for safe-haven assets amid ongoing macroeconomic uncertainties.
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