Gold prices surge by Rs 1,200/10g, and the rally may not be over yet. Here’s why it may be time to accumulate

Gold prices traded sharply higher on Monday, with the MCX December futures jumping over 1% or by Rs 1,223 to Rs 1,22,290 per 10 grams, amid renewed safe-haven demand following weak U.S. consumer sentiment data and a soft jobs report.

Additionally, silver futures opened strong on the MCX, rising by Rs 2,872 or 1.94% to Rs 1,50,600 per kilogram. The white metal mirrored gold’s upward momentum, which was also supported by safe-haven demand.