MCX Gold Silver Price: Precious Metals Surge Following Recent Market Volatility

The Indian commodity market witnessed a sharp recovery in precious metal prices today following several sessions of intense volatility. On the Multi Commodity Exchange (MCX), both gold and silver traded with significant gains, reclaiming key psychological levels. According to market data, the rebound is primarily attributed to value buying at lower levels after a recent spell of profit-booking and global sell-offs.

Gold Prices Maintain Stability Above Key Levels

Gold contracts for April delivery on the MCX showed a steady upward trend during the trading session. 23%, reaching a level of ₹1,60,080 per 10 grams. This marginal yet firm increase indicates a stabilizing sentiment among traders. 60 lakh threshold.

Silver Futures Witness Significant Rally

Silver outperformed gold in terms of percentage gains during today's session. 23% increase, to settle at ₹2,73,920 per kilogram. The surge in silver is largely attributed to a pickup in industrial demand and positive cues from the international bullion market. As silver is widely used in industrial applications, including electronics and renewable energy components, the recovery in manufacturing sectors has provided a necessary boost to its market valuation.

Impact of Global Market and US Gold Futures

The domestic price movement is closely aligned with international trends where precious metals are trading at elevated levels. 91 per ounce. Global factors, including geopolitical uncertainties and the movement of the US Dollar Index, continue to play a pivotal role in determining the trajectory of gold. As a safe-haven asset, gold remains sensitive to international economic developments, which directly influences the rates on the MCX.

Domestic Demand and Market Sentiment

In the Indian bullion market, the recovery in prices coincides with the ongoing wedding season and anticipated festive demand. Physical demand in spot markets has shown signs of improvement, providing a cushion to the futures market. Trading volumes on the MCX have also seen an uptick, reflecting increased participation from hedgers and traders alike. According to officials, the supply-side dynamics and currency fluctuations remain key monitoring points for the commodity sector in the near term.

Exchange Data and Contract Specifications

Data from the Multi Commodity Exchange indicates active trading across various expiry contracts. While the April gold contract remains the most active, the May silver contract saw the highest turnover in today's session. The price differential between different delivery months has narrowed, suggesting a more balanced market view. Commodity experts note that the market is currently reacting to a combination of technical corrections and fundamental shifts in the global economy, including inflation data and central bank policies.