Gold and silver prices recorded a sharp rise on Thursday across global and domestic commodity markets amid increased demand for safe-haven assets and ongoing global economic uncertainties.
In the domestic market, both precious metals traded higher on the Multi Commodity Exchange (MCX). Gold for August 2026 delivery was trading at around ₹1,59,366 per 10 grams, up ₹840 from the previous session. Silver for July 2026 delivery rose ₹753 to ₹2,63,711 per kilogram.
The recovery followed losses in the previous trading session and led to increased buying activity among investors.
According to analysts, the rise in prices was driven by several global factors, including weakness in the US dollar, fluctuations in crude oil prices, geopolitical tensions, particularly in West Asia, and growing demand for safe-haven investments.
Internationally, precious metals also traded higher. Spot gold advanced about 0.7% to approximately $4,461 per ounce, while US gold futures were trading at $4,487 per ounce. Other precious metals, including silver, platinum and palladium, also witnessed positive trends.
Market experts said weakness in the US dollar remains a key support factor for gold prices. A weaker dollar makes gold less expensive for investors holding other currencies, thereby supporting demand. They added that upcoming US Federal Reserve interest rate decisions and economic data releases will continue to influence market direction.
In the domestic retail market, gold prices also strengthened across major cities. In Delhi, 22-carat gold was priced at ₹1,14,672 per 8 grams, while 24-carat gold stood at ₹1,25,088 per 8 grams. In Mumbai and Hyderabad, 22-carat gold was priced at ₹1,14,552 per 8 grams. In Chennai, 22-carat gold was quoted at ₹1,15,992 per 8 grams.
Price variations across cities are attributed to differences in taxes, making charges and local demand conditions. Market experts said gold and silver prices could remain elevated if global uncertainties persist.
