Friday’s trading session on MCX was dominated by a powerful upswing in gold and silver, triggered by US-Iran standoffs and a whisper of dollar weakness. Global risk aversion propelled these assets higher.
The April gold contract peaked at ₹1,60,719 per 10 grams intra-day (0.30% gain), with March silver exploding over 3% to ₹2,68,301/kg. Afternoon quotes showed gold up 0.40% at ₹1,60,354 and silver rising 2.69% to ₹2,66,650.
Without progress in nuclear parleys, geopolitical strains persist. America’s escalated deployments and sanctions on Tehran’s exports have exchanged salvos of rhetoric, boosting haven demand.
A 0.04% dollar index drop to 97.76 post its four-week high provided tailwinds, though tempered by receding US rate-cut speculation amid economic vigor.
In India, SEBI’s ETF valuation revamp for physical holdings aligns evaluations with domestic realities, enhancing clarity for all players starting April 2026.
Market sages view gold’s current ₹1,55,000-₹1,65,000 trading range as a constructive consolidation from record territories, preserving upward bias. Silver’s defensive zone at ₹2,25,000-₹2,35,000 could unlock ₹3,00,000-₹3,25,000 potentials ahead.
As flashpoints endure, gold and silver affirm their primacy in turbulent times, offering ballast to jittery portfolios worldwide.