Gold, Silver Prices Soar Over 1% Amid Global Cues

Gold and silver prices surged on Monday in India due to strong global cues and buying momentum ahead of the festive season. On the Multi Commodity Exchange (MCX), gold futures for October delivery rose by as much as 0.76% or Rs 1,162 to hit an intraday high of Rs 1,52,982.

The yellow metal was trading at Rs 1,52,900, up 0.71% or Rs 1,080 from the previous day's close. Meanwhile, silver futures for September contract outperformed gold, rising by up to 1.62% or Rs 3,755 to touch an intraday high of Rs 2,35,221.

Market experts attributed the rise in precious metal prices to increasing demand from jewelers and investors ahead of the festive season, as well as strength in international markets.