Gold and Silver Surge Amid US-China Trade Developments and AI Export Concerns

In a notable development in the metals market, gold and silver futures saw a surge on Monday, driven by safe-haven demand following reports of potential US export restrictions on advanced AI technology to China. The market's reaction came amid ongoing international scrutiny over US-China trade relations.

On the Multi Commodity Exchange (MCX), December delivery futures for gold appreciated by Rs 483 to Rs 1,21,715 per 10 grams, while silver futures grew by Rs 909 to Rs 1,49,196 per kilogram. Both metals had been on a downward trend in previous weeks but rebounded with investor interest.

Analysts attributed the rise to a combination of factors, including diminished expectations for US rate cuts and a newly reached trade agreement between the US and China. Despite these factors, investor demand for gold remained strong, buoyed by ongoing uncertainties in global markets.