New Delhi, Sept. 29 -- Commodity markets are in the midst of a strong upcycle, with precious and industrial metals witnessing sharp gains in both domestic and global markets. Gold, silver, copper and zinc prices have surged on the Multi Commodity Exchange (MCX), triggering rallies in related stocks.

MCX gold rate hit an all-time high of over Rs.1.16 lakh per 10 grams, while MCX silver price crossed Rs.1.44 lakh per kg, marking a new lifetime high.

Copper prices also extended their upward momentum, rising above Rs.948 per kg on MCX, supported by global supply disruptions. The bullishness intensified after Freeport-McMoRan's Grasberg mine in Indonesia - responsible for 3% of the world's copper output - declared force majeure following a f...