Gold and Silver Prices Surge: Silver Rises ₹14,300, Gold Up ₹7,400

Precious metal prices witnessed a massive surge in the Indian bullion market on Wednesday, marking the second consecutive day of strong recovery. Following a period of heavy sell-off and market correction last week, gold and silver prices rallied Notably across major cities, including the national capital, Delhi. According to the All India Bullion Association, silver prices jumped by ₹14,300 per kilogram, while gold prices rose by ₹7,400 per 10 grams, reflecting a sharp shift in market sentiment driven by global factors.

Domestic Market Price Breakdown

03%, reaching ₹2,98,300 per kilogram (inclusive of all taxes). This follows a closing price of ₹2,84,000 per kilogram in the previous session. 69%, with prices crossing the ₹1,65,100 per 10 grams mark. The closing price on Tuesday stood at ₹1,57,700 per 10 grams. This sharp upward movement has been attributed to a combination of renewed domestic demand and strong cues from international markets.

International Market Trends and Spot Prices

The rally in the domestic market mirrored the strength seen in international commodity exchanges. 35 per ounce. 07 per ounce. A weakening US dollar and global economic uncertainties have prompted international investors to seek refuge in precious metals, which are traditionally viewed as safe-haven assets during times of volatility.

Impact of US-Iran Geopolitical Tensions

According to Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, the primary driver behind this price surge is the escalating geopolitical tension between the United States and Iran, while the friction between Washington and Tehran has dampened hopes for successful nuclear negotiations scheduled for this week. Analysts suggest that the potential for increased conflict has heightened the risk premium for gold, thereby strengthening the demand for safe-haven assets globally.

Expert Analysis on Market Recovery

Gaurav Garg, Research Analyst at Lemon Markets, noted that after a period of sharp fluctuations and correction, both gold and silver showed a solid recovery on Wednesday. 6 lakh per 10 grams level, while silver witnessed an intra-day jump of nearly 6%. According to analysts, the recovery is also supported by technical buying as prices reached attractive levels following the recent decline. The market remains sensitive to macroeconomic data and movements in the Dollar Index.

To sum it all up, the current surge in gold and silver prices is a direct consequence of heightened geopolitical risks and currency market dynamics. The recovery has effectively offset much of the losses recorded during the previous week's correction. Market observers indicate that as long as global political and economic uncertainties persist, precious metals are likely to experience continued volatility in the near term.