Gold and silver prices saw a significant rebound on Tuesday following a period of heavy profit-taking that had previously pushed prices down from record highs. Silver led this recovery, surging more than 4% in futures trading, while gold also experienced steady buying activity on the Multi Commodity Exchange (MCX). Both metals are reflecting renewed interest from investors.
Gold Prices on the Rise
The February gold contract rose by Rs 826, or 0.61%, reaching Rs 1,35,768 per 10 grams. Trading volumes for gold were robust, with 15,953 lots exchanged on the MCX. This price increase follows a significant drop as investors sought to capitalize on lower prices after a period of profit-booking. The market’s response indicates strong interest in gold, which is often perceived as a safe-haven asset during uncertain times. Analysts suggest that recent fluctuations in gold prices are influenced by both domestic and international market dynamics, including changes in demand and investor sentiment.
Silver’s Strong Comeback
Silver prices experienced a dramatic recovery, surging more than 4% after a sharp decline the previous day. The March 2026 silver futures contract jumped Rs 9,590, or 4.27%, to reach Rs 2,34,019 per kg, with a turnover of 11,915 lots. On Monday, silver had peaked at Rs 2,54,174 per kg but faced aggressive profit-taking that reduced prices by Rs 15,358, or 6.40%. Jigar Trivedi, a Senior Research Analyst at Reliance Securities, pointed out that the rebound in silver prices resulted from traders adjusting their positions after the previous day’s downturn. Increased volatility in silver prices has been driven by lower market liquidity, which is typical during holiday periods.
International Market Trends
In international markets, gold futures for February delivery traded higher at USD 4,380.70 per ounce, rising by USD 37.10, or 0.85%. Similarly, silver futures rebounded, with the March 2026 contract gaining USD 3.44, nearly 5%, to reach USD 73.90 per ounce. This increase in international prices reflects a broader trend of value buying, as investors aim to take advantage of lower prices following recent declines. Global market dynamics continue to play a crucial role in influencing the prices of these precious metals, affecting local market trends as well.
Current Gold Prices in Major Indian Cities
Gold prices vary across major Indian cities, reflecting local demand and market conditions. In Delhi, 24K gold is priced at Rs 13,635 per gram, while the 22K variant costs Rs 12,500 per gram. In Hyderabad, 24K gold is trading at Rs 13,620 per gram, and the 22K rate is Rs 12,485. Mumbai mirrors Hyderabad’s prices, with 24K gold at Rs 13,620 per gram. Chennai reports higher rates, with 24K gold at Rs 13,746 per gram. Kolkata and Ahmedabad show similar pricing trends, with 24K gold at Rs 13,620 and Rs 13,625 per gram, respectively. These variations emphasize the localized nature of gold pricing in India, shaped by regional demand and market conditions.
Digihunt is not a financial advisor and this is not investment advice.