Gold, silver prices rally again as global uncertainty fuels market volatility

Gold and silver prices witnessed a sharp rebound in the domestic market, reversing the recent downward trend amid growing global and macroeconomic uncertainties.

After a brief phase of correction, both precious metals resumed their upward momentum. On the previous day, 22-carat gold had climbed by nearly Rs 1,000 to trade at around Rs 1,41,000 per 10 grams, while 24-carat gold was priced at approximately Rs 1,54,000. However, prices surged sharply on Wednesday.

The price of 24-carat gold jumped by Rs 6,660, reaching ₹1,60,530 per 10 grams, while 22-carat gold rose by Rs 6,050 to settle at Rs 1,47,150 per 10 grams.

Silver also recorded a steep increase, gaining Rs 20,000 per kilogram to trade at Rs 3,20,000 per kg, reflecting strong demand and safe-haven buying.

Market analysts attribute the renewed surge to a combination of profit booking, global economic uncertainty, geopolitical tensions, and trade-related concerns. Economic expert Shiva Prasad Padhi said the earlier decline was driven by profit-taking, but broader global factors have once again pushed prices higher.

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“Macroeconomic developments, geopolitical situations, and trade wars are significantly influencing gold and silver prices. The upward trend is likely to continue in the coming days,” Padhi said.

The latest surge has sparked concern among retail buyers, particularly ahead of the wedding and festive season, while investors continue to view gold and silver as reliable safe-haven assets during periods of uncertainty.