Wednesday brought cheers to bullion traders as gold and silver staged a remarkable comeback in Indian markets. Data from the India Bullion and Jewellers Association shows silver vaulting 18,497 rupees to 282,462 rupees per kilogram, while 24-carat gold surged 5,096 rupees to 156,625 rupees per 10 grams.
Purity-wise, 22-carat gold reached 143,469 rupees (from 138,801 rupees), and 18-carat settled at 117,469 rupees (up from 113,647 rupees) per 10 grams. This synchronized uptick across segments highlights deep-rooted demand from jewellery makers, investors, and industries.
Contextualizing the move, prices had cratered last Friday—gold down over 11 percent, silver over 31 percent—due to aggressive profit realization. The rebound gained traction in both spot and futures arenas. MCX saw gold’s 2026 April contract rise 1.98 percent to 156,850 rupees, with silver’s March 2026 contract jumping 5.59 percent to 282,993 rupees.
Overseas markets echoed the sentiment: Comex gold added 1.85 percent to 5,029 dollars per ounce, and silver rocketed 8.25 percent to 90 dollars per ounce. Experts link the surge to safe-haven flows amid world events and silver’s strengthening industrial usage in solar panels, electronics, and EVs.
Looking ahead, the trajectory hinges on US macroeconomic releases. ‘Geopolitical risks and demand fundamentals favor upside potential,’ opined a bullion analyst. This rally serves as a reminder of precious metals’ resilience, offering portfolio diversification in turbulent times. Market participants should stay vigilant for profit-booking risks.