After a turbulent week, gold and silver prices in India bounced back on Friday, as investors turned to the safe-haven appeal of precious metals. Gold futures on the MCX surged to ₹1,44,540 per kilogram, up about ₹1,500 per 10 grams, while silver jumped to ₹2,49,900 per kilogram, rising nearly ₹5,140.
Earlier in the week, both metals had faced heavy selling pressure. Gold had dropped more than ₹4,300 per 10 grams, and silver had tumbled nearly ₹13,700 per kilogram, driven by a strong U.S. dollar and global uncertainties. Friday’s rebound offered a welcome relief for traders and retail buyers.
The recovery was supported by a softer US dollar, which makes dollar-denominated commodities like gold and silver more attractive for Indian buyers. Optimism around easing tensions between the US and Iran further lifted investor sentiment. Analysts, however, warn that prices remain volatile and can change quickly with global developments.
Retail gold rates across major cities reflected the rebound, with both 24-carat and 22-carat gold showing gains. Silver, which had been especially volatile, also recovered sharply, attracting renewed attention from jewelers and investors.
Despite Friday’s rally, March has been a tough month for precious metals. Gold prices fell roughly 15% and silver dropped around 26% during the month, highlighting the sensitivity of bullion to factors like currency fluctuations, oil prices, and geopolitical tensions.
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