Gold and silver prices in India recovered on Friday after a recent slump, driven by bargain hunting from investors. On the Multi Commodity Exchange (MCX), gold for April delivery rose about 1.3% to ₹1,54,800 per 10 grams, while silver for March delivery climbed around 2.2% to ₹2,41,800 per kilogram. Traders said the rebound reflects buying at lower levels after the sharp sell-offs earlier this week.
Despite the recovery, silver remains roughly 42% below its peak, highlighting the continuing volatility in the market. Analysts say the recent upswing is short-term, largely fueled by investors looking to seize value after prices dipped.
Global markets mirrored this trend. Spot gold rebounded nearly 1% to around $4,966 per ounce, while spot silver gained over 2%, recovering from earlier losses. However, strong US economic data, particularly employment figures, tempered hopes of imminent interest rate cuts, keeping precious metals under some pressure.
Market experts note that while prices are volatile, the long-term outlook for both gold and silver remains positive. Central bank buying and safe-haven demand continue to provide support. Additionally, inflows into gold and silver exchange-traded funds (ETFs) indicate steady investor interest.
For buyers, the current situation presents both opportunity and caution. Bargain hunting has fueled recent gains, yet overall prices are still far below previous highs, emphasizing the need for careful, measured investing in these metals.
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