Wednesday brought fireworks to India’s bullion bazaars, where 24-carat gold for 10 grams blasted past 1.57 lakh rupees. The India Bullion and Jewellers Association logged a 1,067-rupee surge to 1,57,322 rupees per 10 grams, lifting from 1,56,255 rupees.
Ripple effects touched every tier: 22-carat gold hit 1,44,107 rupees per 10 grams (from 1,43,130 rupees), 18-carat settled at 1,17,992 rupees (up from 1,17,191 rupees). Silver stole the spotlight, rocketing 7,349 rupees to 2,66,449 rupees per kilo versus 2,59,100 rupees previously.
Derivatives markets buzzed with activity. MCX saw April 2026 gold up 0.94% at 1,58,284 rupees and March 2026 silver soaring 3.91% to 2,62,435 rupees, in sync with spot elevations.
Global exchanges matched the vigor—Comex gold gained 1.10% to 5,086 dollars per ounce, silver surged 4.35% to 83 dollars. Jatin Trivedi from LKP Securities called the 1,700-rupee MCX gold jump a clear sign of bets placed before US unemployment and payroll figures.
Gold finds footing around 1,55,000 rupees, facing barriers at 1,60,000-1,62,000 rupees, per Trivedi. As festivals approach, this rally blends opportunity with volatility, urging savvy navigation of currency swings and policy shifts for optimal investment timing.