In a positive development for Indian consumers, gold prices have softened slightly in the local market on Wednesday, contrasting with firmer global trends. This limited pullback offers breathing room for buyers eyeing festive or matrimonial purchases.
Data from the India Bullion and Jewellers Association (IBJA) shows 24-karat gold trading at 1,59,008 rupees per 10 grams after a 233-rupee drop from 1,59,241 rupees. 22-karat fell to 1,45,651 rupees from 1,45,865 rupees, and 18-karat to 1,19,256 rupees from 1,19,431 rupees per 10 grams.
Silver prices, meanwhile, posted a strong advance of 2,505 rupees to 2,65,417 rupees per kilogram, up from 2,62,912 rupees, reflecting divergent investor sentiments.
On the MCX, April 2026 gold contracts edged up 0.51% to 1,60,791 rupees, while March 2026 silver climbed 2.31% to 2,66,756 rupees. Overseas, Comex gold gained 0.46% to 5,199 dollars per ounce, and silver soared 3.40% to 90.48 dollars per ounce.
Expert Jatin Trivedi of LKP Securities pointed to a recent 900-rupee upmove in MCX gold, spurred by geopolitical risks from the Iran-Israel standoff, bolstering gold’s safe-haven status. He pegs support at 1,55,000 rupees and resistance near 1,64,000 rupees.
The past year’s bull run has been stellar: gold up nearly 80%, silver exceeding 180% returns. With ongoing global flashpoints, precious metals continue to shine, but this domestic dip presents a strategic entry point for value-conscious investors and buyers alike.