Gold and silver markets delivered plenty of drama today, keeping investors and jewellery buyers on edge. After two sessions of decline, gold futures on the Multi Commodity Exchange (MCX) rebounded sharply, climbing nearly 4%. Silver followed suit with an even stronger surge of more than 5%, buoyed by a weaker U.S. dollar and easing oil prices that reduced inflationary concerns.
In retail markets, however, the picture was mixed. In Hyderabad, 24-carat gold was priced at ₹14,290 per gram, while silver stood at ₹249.90 per gram. Nationally, gold slipped by ₹380 to ₹142,910 per 10 grams, but silver bounced back by ₹5,000 to ₹235,000 per kilogram. On the MCX benchmark, gold settled at ₹1,44,434 per 10 grams and silver at ₹2,36,137 per kilogram, reflecting the strength of futures trading compared to spot prices.
Analysts point to several factors driving today’s volatility. The U.S. dollar’s weakness made precious metals more attractive as safe-haven assets, while falling oil prices eased fears of runaway inflation. At the same time, geopolitical tensions—particularly involving the U.S., Iran, and Israel—continue to inject uncertainty into global markets, keeping demand for gold and silver strong.
For investors, the takeaway is clear: precious metals remain highly sensitive to global events, and sharp swings are likely to continue. While dips in gold prices may attract buyers looking for long-term security, silver’s rebound highlights its appeal as both an industrial metal and a hedge against volatility.
