Gold and silver prices in India showed marginal gains on Thursday, offering some relief to buyers after sharp swings seen earlier this week. Retail bullion rates in major cities moved up slightly, while futures prices on the Multi Commodity Exchange (MCX) continued to reflect market volatility.
According to market data, the price of 24-carat gold rose by ₹10 to ₹1,59,450 per 10 grams, while 22-carat gold also gained ₹10, trading at around ₹1,46,160 per 10 grams. Silver prices increased by ₹100, with one kilogram priced at approximately ₹3,20,100 in key markets such as Delhi, Mumbai and Chennai.
City-wise prices remained largely stable across the country. In Chennai, 24-carat gold was quoted higher due to local taxes, while prices in Mumbai and Delhi stayed close to national averages. Traders said buying interest was seen at lower levels following recent corrections.
In contrast, MCX futures told a different story. Gold futures were trading well below recent highs, hovering around ₹1.51 lakh per 10 grams, while silver futures slipped sharply to nearly ₹2.44 lakh per kilogram. The decline in futures prices reflects continued nervousness among traders after a historic sell-off earlier in the week.
Market experts said the recent volatility was driven by global factors, including a stronger US dollar, changing expectations around interest rates, and profit-booking by investors after bullion touched record levels. Silver, which is more sensitive to industrial demand, has been especially volatile compared to gold.
Despite the small rise in today’s retail prices, analysts cautioned that the move appears to be technical and short-term, rather than a clear trend reversal. They added that precious metal prices are likely to remain sensitive to global economic data, currency movements and geopolitical developments in the near term.
For now, buyers and investors are advised to track international cues closely, as gold and silver markets continue to witness sharp intraday swings and uncertain direction.
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