Bullion enthusiasts are buzzing after a blockbuster session in India’s precious metals market on Wednesday. Silver spearheaded the advance, rocketing 18,497 rupees to a peak of 282,462 rupees per kilogram, per India Bullion and Jewellers Association figures. Gold mirrored the frenzy, with 24-carat rates leaping 5,096 rupees to 156,625 rupees for 10 grams.
Supporting grades included 22-carat gold at 143,469 rupees (previously 138,801 rupees) and 18-carat at 117,469 rupees (up from 113,647 rupees) per 10 grams. The move caps a whirlwind week, rebounding from Friday’s rout where gold shed 11 percent and silver 31 percent on heavy selling.
Futures markets amplified the excitement: MCX gold for April 2026 climbed 1.98 percent to 156,850 rupees, while silver’s March 2026 contract surged 5.59 percent to 282,993 rupees. Spot trading volumes swelled as buyers piled in.
The global stage set the tone, with Comex gold up 1.85 percent at 5,029 dollars per ounce and silver blazing 8.25 percent higher to 90 dollars per ounce. Factors at play include macroeconomic jitters, currency fluctuations, and silver’s booming industrial applications.
Industry voices emphasize caution amid euphoria. ‘Volatility persists, but fundamentals are solid,’ remarked a senior dealer. Forthcoming US data on employment and inflation will be pivotal. This episode reaffirms gold and silver’s stature as economic barometers, drawing in everyone from wedding shoppers to institutional funds.