New Delhi: After a steep decline in the previous week, gold and silver prices today witnessed a slight recovery in the domestic market as investors stepped in for fresh buying at lower levels. The rebound reflects improved sentiment in the precious metals market following a sharp correction.
According to market data, silver and gold prices today have shown early signs of stabilization, supported by bargain buying and improved demand across retail and futures segments.
Domestic market shows mild recovery
In the domestic market, silver and gold prices today moved higher. 24-carat gold increased by ₹43 to ₹14,651 per gram, while 22-carat gold rose by ₹40 to ₹13,430 per gram. Silver, however, remained unchanged at ₹250 per gram or around ₹2,50,000 per kilogram.
The movement indicates that gold and silver prices today are gradually recovering after last week’s sharp decline.
MCX futures signal positive trend
In the futures market on the Multi Commodity Exchange (MCX), gold and silver prices today also showed strength. Gold August futures traded at ₹1,48,040 per 10 grams with a firm tone.
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Silver July futures rose around 1.13% to ₹2,36,490 per kilogram, adding further support to the recovery in gold and silver prices today across markets.
Sharp fall seen last week
The recovery comes after a significant drop in gold and silver prices today last week. Gold prices had fallen by nearly ₹5,228 per 10 grams in retail markets, while MCX gold dropped by up to ₹2,750 per 10 grams. Silver also declined sharply by over ₹10,000 per kilogram.
The fall in gold and silver prices today was largely driven by expectations that the US Federal Reserve would delay interest rate cuts, prompting investors to shift towards safer fixed-income assets.
Why prices are recovering now
The latest rebound in silver and gold prices today is mainly due to fresh buying at lower levels. After the steep correction, investors have returned to the market, triggering renewed demand for precious metals.
This buying support has helped stabilize gold and silver prices today, leading to a modest upward trend.
Overall, gold and silver prices today have shown a cautious recovery after last week’s heavy losses. While global economic factors continue to influence market movement, renewed investor interest has provided short-term support to precious metal prices.