Overview
- Spot gold rose roughly 1% to about $5,020–$5,030 after a 4% surge on Friday, while silver advanced 4–5% to around $81–$82 an ounce, according to early Monday trade readings.
- A weaker dollar and bargain hunting underpinned the rebound, with analysts citing evolving rate‑cut expectations and San Francisco Fed President Mary Daly’s remarks as supportive factors.
- Indian futures mirrored global gains, with MCX gold near Rs 1.57 lakh per 10 grams and MCX silver around Rs 2.61 lakh per kg after intraday spikes toward Rs 2.65 lakh.
- The recovery follows a sharp, margin‑driven unwind from late‑January records, as speculative positioning and CME increases to silver futures margins amplified forced liquidations and volatility.
- Institutional demand remained a backstop, with central banks and ETFs adding to holdings, including a 15th straight month of gold purchases by China’s PBOC, as traders also track U.S. inflation and other data this week.