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On the holy festival of Diwali, there has been tremendous excitement and enthusiasm in the bullion and commodity markets of the country. A strong rise was recorded in both the precious metals gold and silver in the session of traditional and special Muhurat Trading 2026 organized on the beginning of the new year of Samvat. During trading on Multi Commodity Exchange (MCX), the country’s main futures market, the prices of both gold and silver closed with a jump of more than Rs 500. During this period, due to heavy demand from investors and jewelery buyers, the price of silver once again crossed Rs 1.85 lakh per kg, while gold was also seen trading strongly above the level of Rs 1.42 lakh per 10 grams.
Being Sunday, global and major international futures markets remained completely closed, but domestic investors participated enthusiastically in the Muhurat trading session organized on the special occasion of Diwali in India. Market analysts say that this special session was not just a ceremonial start, but it saw solid institutional and retail buying. According to market experts, since the prices of both the precious metals had recovered slightly from their recent record high levels, investors saw an excellent and safe opportunity to buy them for the long term. Apart from this, the traditional shine of gold and silver as a safe investment has further increased amid the prospects of cessation of ongoing tensions and geopolitical conflicts in West Asia and the Middle East and amid global economic uncertainties.
There was a consistent buying trend in gold contracts since the beginning during the Muhurta trading session on the Multi Commodity Exchange (MCX). During the trading session, gold price rose by Rs 533 per 10 grams to reach a high of Rs 1,42,700. Earlier in the last trading session i.e. on Friday, the future price of gold had closed at Rs 1,42,167 per 10 grams. During the special session on Sunday, gold had made a steady start at Rs 1,42,163 per 10 grams.
As the muhurat trading hours progressed, deals were recorded from retail investors and big jewelers augur of the new financial year. In the afternoon trade at around 3.05 pm, gold was trading strongly at around Rs 1,42,593 per 10 grams, maintaining a strong gain of Rs 426. This rise in gold prices has brought a smile on the faces of common customers buying physical gold during the festive season as well as those investing in digital gold and gold ETFs. Market experts believe that in Indian culture, buying gold on the day of Diwali is considered a symbol of prosperity and good fortune, the direct effect of which was seen in this special session.
Along with gold, white metal i.e. silver also indicated bumper returns to investors on the day of Diwali. During Muhurta trading, a strong increase of Rs 552 per kg was recorded in the future price of silver on MCX, due to which the price of silver jumped to a high of Rs 1,85,339 per kg. Around 3:07 pm, silver stood at Rs 1,85,035 per kg with a net gain of Rs 248.
At the beginning of the session, silver had opened at Rs 1,85,060 per kg and in the day’s trade it had also touched a low of Rs 1,84,800 per kg. Earlier on Friday, the futures price of silver had closed at Rs 1,84,787 per kg. Not only the festive omen, but industrial demand has also emerged as a big factor behind this rise in silver. The increasing global consumption of silver in solar energy, electric vehicles and modern electronic devices has made it an important industrial commodity and not just an ornament, due to which investor confidence in it remains strong.
Commodity and financial market experts believe that there is every possibility that the fluctuations in the prices of gold and silver will continue in the new year of Samvat. Both the metals have now recovered from their previous highs and have now reached a strong support level, due to which the eyes of both domestic and foreign investors are focused on them. In the coming weeks, the interest rate policies of global central banks, the trend of the US dollar and international geopolitical conditions will play a decisive role in deciding the actual direction of these precious metals.
Domestically, the upcoming wedding season is about to begin in India, which is expected to further increase the physical demand for jewelery in the retail bullion market. Even if international tensions ease and inflation figures remain under control, the fundamental demand for gold and silver as a safe investment asset will remain. Commodity analysts are advising investors to adopt a phased buying strategy on any major dips so as to diversify and protect their portfolio in the long term.