Precious metals staged a comeback on MCX this Friday after a bruising fall the day before. Bargain-hunting investors propelled gold and silver prices higher in a volatile week-ender.
April gold contracts surged beyond 1 percent early on, peaking at 1,54,837 rupees for 10 grams. Silver’s March contracts leaped over 2.5 percent to a daily top of 2,43,699 rupees per kilogram.
As trading progressed to about 11:32 AM, gold held a 0.60 percent gain at 1,53,759 rupees (plus 923 rupees), while silver advanced 1.92 percent to 2,40,966 rupees per kg (up 4,531 rupees).
‘Gold has found its footing post the January end slump,’ said PL Capital’s Sandeep Raichura. He predicts a climb to 6,000 dollars per ounce by late 2026.
Easing US-India trade frictions, thanks to President Trump’s deal approvals and Brazil overtures, have calmed nerves. However, inflation pressures and geopolitical rifts keep central banks stacking gold.
Technicals show gold supported at 1,54,000 rupees/10g and silver at 2,42,000 rupees/kg. Experts dismiss the prior drop as routine profit booking.
On Comex, gold oscillated 4,850-5,100 dollars after recent 5,500+ dollar highs. Silver ranged 73-84 dollars from prior 121+ dollar levels.
Dollar index firmed to 97 from 96.93. Markets await US CPI data to gauge Fed rate paths.
Silver’s bullish case rests on supply shortages and robust industrial use. Gold, bolstered by its haven status and institutional demand, looks set for multi-year gains.