Silver surges Rs 8,500, inches near Rs 2.50 lakh. Here are key levels for Monday’s trade

On Friday, MCX silver futures for March 5, 2026 rose 3.62%, up Rs 8,564 to Rs 2,44,999 per kg. Gold futures for April also edged higher by Rs 305, or 0.2%, to Rs 1,56,200 per 10 grams.

In international commodity markets, precious metals rebounded sharply after the previous session’s selloff, with spot silver rising 2.1% to $77.27 per ounce, recovering from an 11% plunge a day earlier. Spot gold also advanced 2.33% to $5,063 and is now up more than 1% for the week. The recovery comes after bullion dropped nearly 3% on Thursday, slipping to its lowest level in almost a week.

The U.S. Consumer Price Index rose 0.2% in January, below economists’ expectations of a 0.3% increase, following an unrevised 0.3% gain in December, the Labor Department said.

Gold, silver levels for Monday

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MCX Gold continues to exhibit structural resilience despite global consolidation, supported by relative firmness in USD/INR. The Rs 1,50,000 support band remains a strong demand absorption zone, attracting both physical buying and investment flows, reinforcing the integrity of the medium-term rising channel.
“Price behavior at lower levels indicates accumulation rather than distribution. A sustained move above Rs 1,60,000 would likely re-ignite bullish momentum toward Rs 1,65,000–Rs 1,70,000+, while meaningful downside risk remains limited unless COMEX gold breaches its structural support clusters decisively,” Ponmudi R, CEO of Enrich Money said. MCX Silver continues to build a durable base within the Rs 2,33,000–Rs 2,35,000 structural support zone. Price action reflects gradual absorption, with downside momentum notably weaker compared to the prior week’s volatility spike. Volatility compression at these levels signals accumulation rather than liquidation.

A decisive breakout above Rs 2,65,000 would likely attract momentum participation, targeting Rs 2,80,000+ in the medium term, supported by tightening global supply dynamics and steady industrial offtake.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)