Precious metals markets delivered mixed signals on Tuesday, boosting gold enthusiasts while silver investors felt the pinch. Domestic benchmarks from the India Bullion and Jewellers Association showed 24-karat gold soaring 1,021 rupees to a fresh level of 1,59,241 rupees for 10 grams, building on Monday’s 1,58,220 rupees base.
Purity variants weren’t left behind: 22-karat gold climbed to 1,45,865 rupees per 10 grams from 1,44,930 rupees, and 18-karat advanced to 1,19,431 rupees from 1,18,665 rupees. These gains underscore gold’s safe-haven appeal in uncertain times.
Silver, however, reversed course sharply, shedding 1,163 rupees to quote at 2,62,912 rupees per kilogram, down from 2,64,075 rupees. The drop raises questions about short-term demand for the white metal.
Futures trading on MCX mirrored caution, with gold April 2026 easing 0.97% to 1,60,037 rupees and silver March 2026 falling 2.01% to 2,59,999 rupees. Global cues played a role, as spot gold dipped 0.96% to 5,175 dollars per ounce overseas, even as silver gained 1.07% to 87.49 dollars.
LKP Securities’ Jatin Trivedi observed range-bound action on MCX gold, hitting hurdles at Comex’s 5,175-dollar mark. Key levels include support at 1,58,000 rupees and resistance around 1,62,500 rupees. With worldwide volatility in play, experts predict sustained fluctuations, urging traders to stay vigilant on macroeconomic updates and international developments.