Gold Prices Surge on MCX: Rates Reach ₹1.6 Lakh per 10 Grams, Silver Jumps 2% to ₹2.67 Lakh per Kg

Global Precious Metals Market Update

Key Takeaways:

• MCX gold rate for April futures contracts opened higher by ₹1,008 (0.63%) at ₹1,60,977 per 10 grams on Wednesday.
• MCX silver rate for March futures contracts opened higher by ₹5,200 (2%) at ₹2,65,944 per kilogram compared to its previous close.

International Market Performance:

Read also: Gold and Silver Prices Decline Amid Strengthening Dollar and Inflation Concerns

• Comex Gold prices rallied on Wednesday, supported by safe-haven demand amid uncertainty over Trump tariffs and sustained geopolitical tensions in the Middle East.
• Spot gold price rose 0.5% to $5,174.76 per ounce, while US gold futures for April delivery gained 0.3% to $5,192.20.
• Spot silver price rose 1% to $88.23 per ounce, after hitting a more than two-week high on Monday.
• Spot Platinum price rallied 2.1% to $2,212.72 per ounce, while Palladium price gained 1.4% to $1,793.68.

Geopolitical and Economic Updates:

• Two US Federal Reserve officials signaled no near-term appetite to change the setting of central bank interest rate policy.
• Iran and the US will hold a third round of nuclear talks on Thursday in Geneva.