Gold and Silver Shine Again After Days of Heavy Price Fluctuations

Precious metal prices staged a sharp rebound in the national capital on Wednesday after witnessing heavy volatility in recent sessions, with silver surging close to Rs 3 lakh per kilogram and gold climbing above Rs 1.65 lakh per 10 grams , according to traders.

Silver prices jumped by over 5 per cent to Rs 2,98,300 per kg (inclusive of all taxes), while gold of 99.9 per cent purity advanced nearly 5 per cent to Rs 1,65,100 per 10 grams. The rally followed a steep sell-off last week that had left investors cautious amid rapid price swings.

Market participants attributed the renewed momentum to firm global trends , a weaker US dollar and a return of safe-haven buying after days of sharp correction. Analysts said recent volatility had kept buyers on the sidelines, but improving global cues helped restore confidence.

In the international markets , spot silver gained over 5 per cent to trade around USD 89 per ounce, while gold rose more than 2 per cent to cross USD 5,000 per ounce. Rising geopolitical tensions between the US and Iran also supported bullion prices, as investors sought protection against global uncertainty.

Traders noted that while the sharp rebound has lifted sentiment, gold and silver prices remain highly volatile, with investors closely tracking geopolitical developments and currency movements for further direction.