Gold and Silver Prices Stage Strong Comeback on MCX
Gold and silver prices in India have staged a robust recovery through Tuesday and Wednesday, rebounding sharply after sliding earlier in the week. This fresh surge is primarily driven by renewed buying interest from investors following a few days of profit-booking, coupled with safe-haven demand amid global market volatility.
MCX Futures Show Significant Gains
On the Multi Commodity Exchange (MCX), gold futures climbed sharply as market sentiment improved. This recovery comes after losses triggered by global market fluctuations and movements in the US dollar on February 3. Silver prices also picked up momentum, posting solid intraday gains. The rebound in bullion reflects continued demand for precious metals as safe-haven assets, highlighting persistent uncertainty in global financial markets.
Detailed Price Movements
MCX gold April futures opened nearly 3% higher at Rs 1,58,420 per 10 grams, compared with the previous close of Rs 1,53,046. Prices later extended gains, touching an intraday peak of Rs 1,60,755 on Wednesday. Meanwhile, MCX silver March futures opened at Rs 2,58,096 per kilogram, indicating a strong upward trend.
Current Gold Prices in India
Gold prices in India remain stable today, with specific rates as follows:
- 24-carat gold: Priced at Rs 1,59,450 per 10 grams
- 22-carat gold: Stands at Rs 1,46,160 per 10 grams
- 18-carat gold: Quoted at Rs 1,19,590 per 10 grams in the domestic market
Factors Influencing Daily Price Changes
Gold and silver prices in India fluctuate daily due to a combination of global and domestic factors. Key influences include:
- Trends in international bullion markets
- Movements in the rupee–US dollar exchange rate
- Inflation expectations and interest rate changes
- Broader economic uncertainty boosting safe-haven demand
- Geopolitical developments
- Routine shifts in supply and demand dynamics
These elements collectively contribute to the day-to-day variations observed in gold and silver rates, making them sensitive indicators of market sentiment and economic conditions.
