Precious metals markets delivered a tale of two trajectories this week in India. Gold eked out gains of about 700 rupees, reaching new weekly levels, even as silver plummeted by roughly 2,500 rupees per kilogram. Data from the India Bullion and Jewellers Association shows 24-carat gold at 1,52,765 rupees for 10 grams, up from 1,52,078 rupees last week.
Lower purity options followed suit: 22-carat gold rose to 1,39,933 rupees from 1,39,303 rupees, and 18-carat advanced to 1,14,574 rupees from 1,14,059 rupees, all per 10 grams. Silver, however, faced headwinds, dropping to 2,42,433 rupees per kilo after starting the week at 2,44,929 rupees.
Spot trading revealed the week’s drama. Gold touched 1,57,322 rupees on February 11, its peak, before dipping to 1,52,751 rupees on February 13. Silver’s high was 2,66,449 rupees early in the week, closing at a low of 2,42,433 rupees.
Internationally, Comex gold settled at 5,046.30 dollars per ounce, surpassing 5,000 dollars, with silver at 77.96 dollars. This comes after blockbuster yearly returns—over 70% for gold and 140% for silver—suggesting a cooling phase amid stabilization efforts.
Economists point to factors like US Federal Reserve signals, geopolitical tensions, and domestic demand as key drivers. As prices settle, buyers might find opportunities in silver’s dip, while gold’s resilience appeals to long-term holders. The week highlights how global cues continue to sway Indian bullion markets.