Gold and silver prices moved higher in domestic futures trading on February 18 as investors returned to bullion after the previous session’s fall.
On the Multi Commodity Exchange (MCX), gold contracts for April delivery climbed close to ₹1.53 lakh per 10 grams in early trade, gaining more than 1 per cent. Silver performed even better, rising over 2 per cent to trade above ₹2.35 lakh per kilogram. The rebound came after both metals had witnessed profit-booking and sharp corrections earlier.
In the international market, gold recovered from lower levels as investors continued to treat the metal as a safe-haven asset amid geopolitical tensions and uncertainty over the US Federal Reserve’s future rate decisions. Silver also bounced back in global trade, helping domestic prices strengthen.
Analysts said the current uptrend is being driven by bargain buying at lower levels and strong underlying demand. India’s ongoing wedding season has kept jewellery purchases steady, while recent data showing a sharp rise in gold and silver imports indicates robust consumption as well as investment interest.
However, market experts believe volatility will persist in the short term. Movements in the dollar index, global bond yields and fresh cues from international economic developments are likely to influence bullion prices. Any strengthening of the US currency could limit sharp gains.
Traders are therefore adopting a cautious strategy, preferring to buy on dips while booking profits at higher levels.
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