Gold Jumps ₹3,500, Silver Surges ₹9,000 Amid Strong Global Trends And Easing West Asia Tensions
· Free Press Journal
New Delhi, Apr 1: Silver prices surged by Rs 9,000 to Rs 2.46 lakh per kg, while gold jumped by Rs 3,500 to Rs 1.55 lakh per 10 grams on Wednesday, following firm global trends.
Domestic price movement
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According to the All India Sarafa Association, the white metal appreciated by Rs 9,000, or 3.8 per cent, to Rs 2,46,000 per kg (inclusive of all taxes) from Monday's closing level of Rs 2,37,000 per kg.
Gold of 99.9 per cent purity also increased by Rs 3,500, or 2.3 per cent, to Rs 1,55,000 per 10 grams (inclusive of all taxes). The yellow metal had settled at Rs 1,51,500 per 10 grams in the previous market session.
Bullion markets were closed on Tuesday on account of Shri Mahavir Jayanti.
Global factors driving rally
Gold continued to rise on Wednesday amid a rally that was fuelled by signs of easing tensions in West Asia, which are expected to lower the risk of further escalation and damage to energy infrastructure, Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
He added that this development supports expectations of softer oil prices, alleviates long-term inflation concerns, and decreases the likelihood of additional rate hikes by central banks.
Yearly performance
In the last fiscal year 2025-26, gold prices soared by Rs 57,350, or around 61 per cent, from Rs 94,150 per 10 grams, recorded on April 1, 2025. Silver also zoomed by Rs 1,34,500, delivering more than 131 per cent returns to investors in the domestic markets.
International market trends
In the international market, spot gold gained USD 76.51, or nearly 2 per cent, to USD 4,743.89 per ounce, while silver was trading marginally lower at USD 75.04 per ounce.
"Gold extended gains on Wednesday, with the yellow metal near a two-week high of USD 4,750 per ounce and silver edging toward USD 76, as traders weigh longer-term economic risks and anticipate President Donald Trump’s prime-time address on the Iran conflict on Thursday," Kaynat Chainwala, AVP-Commodity Research, Kotak Securities, said.
She added that the rebound in precious metals followed signals from Iran suggesting a potential end to the conflict and reports that the US may also scale back military operations.
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Despite these gains, Chainwala said both metals ended March lower, with gold down 11 per cent and silver 20 per cent in the overseas trade.
Looking ahead, bullion prices are expected to remain sensitive to Trump's address and key week's US macroeconomic releases, including jobs, retail sales, and manufacturing PMI, which may shape expectations for growth, inflation, and the Federal Reserve's monetary policy, she added.
(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)