Domestic bullion markets delivered a split verdict this week: gold soaring over ₹3,000 per 10 grams, silver tanking ₹20,822 per kg. IBJA reports peg 24-carat gold at ₹1,52,078/10g, a jump from ₹1,48,697 on Feb 1. 22-carat gained to ₹1,39,303/10g (from ₹1,36,206), 18-carat to ₹1,14,059 (from ₹1,11,523).
Silver’s rout saw it fall to ₹2,44,929/kg from ₹2,65,751. Volatility defined the period—24-carat gold spot highs of ₹1,58,158/10g on Feb 4, lows ₹1,42,270/10g on Feb 2; kg highs ₹2,82,462, lows ₹2,36,496.
Overseas, Comex gold slipped to $4,979.80/oz from $5,000+, silver at $76.89/oz. Factors like US Fed signals and Middle East tensions fueled gold’s resilience.
Market veterans warn of dependency on Friday’s US jobs report. ‘Expect range-bound action near-term,’ they note. This could stabilize prices or spark fresh moves.
Broader context reveals gold’s outperformance amid equity wobbles, while silver suffers from weak industrial demand in electronics and solar. For retail investors, diversification across metals might hedge risks. As festivals approach, jewellers report brisk gold enquiries despite the uptick.