MCX Shares Surge 8% Amid Rising Gold, Silver Prices

Shares of Multi Commodity Exchange of India (MCX) have surged 8% in three sessions, reaching Rs 3,211 on Friday. This gain is largely due to a third consecutive rise in gold and silver prices.

The prices of these precious metals are increasing due to a weaker US dollar and easing concerns over long-term yields. MCX shares have gained 15% over the past month and are up around 45% so far this calendar year, with a significant increase of 101% over the past year.

In the domestic market, gold futures for October 2026 delivery rose by Rs 1,205 to Rs 1,60,630 per 10 grams, while silver futures for September 2026 delivery were up Rs 1,915 at Rs 2,45,158 per kg. The U.S. dollar is heading towards a weekly decline, making dollar-priced commodities more affordable for holders of other currencies.

Analysts are optimistic about the growth prospects of MCX, with HDFC Securities reaffirming its 'Buy' rating on the shares and expecting regulatory easing to expand the participant base and broaden product offerings. UBS has also upgraded its rating on the shares to 'Buy' from 'Neutral', raising its target price to Rs 3,800 from Rs 3,600.