Gold and silver prices in India recorded another sharp increase as buying activity intensified ahead of the Akshaya Tritiya festival. Increased demand in the bullion market has directly impacted prices, with both metals registering gains during the latest trading session.
In the current trading session, silver prices surged significantly. On the Multi Commodity Exchange (MCX), silver rose by approximately ₹3,993 to reach ₹2,55,735 per kilogram. In the retail market, silver was trading at higher levels, nearing ₹2,70,000 per kilogram. The sharp single-day increase of nearly ₹4,000 has drawn attention from both investors and buyers ahead of the festive period.
Gold prices also moved higher alongside silver. On the MCX, gold increased by about ₹861 to reach ₹1,54,809 per 10 grams. In the retail market, prices across different purity levels were reported as follows: 24-carat gold at ₹1,55,570 per 10 grams with an increase of ₹220, 22-carat gold at ₹1,42,600 per 10 grams with an increase of ₹200, and 18-carat gold at ₹1,16,680 per 10 grams with an increase of ₹170.
Prices in major cities, including New Delhi, are approaching record levels. Gold recently reached ₹1.58 lakh per 10 grams, while silver has crossed ₹2.57 lakh per kilogram. Rising demand in the capital, along with active buying by stockists, has supported the upward movement in prices.
Akshaya Tritiya is considered an auspicious occasion for purchasing gold in India, leading to increased seasonal demand. Market participants indicate that consumer interest remains firm this year, although buying patterns are shifting toward lighter and designer jewellery instead of heavier ornaments.
In global markets, gold and silver prices recorded a slight decline. Gold fell by approximately 1% to $4,795.97 per ounce, while silver declined to $78.61 per ounce.
