Gold, silver surge on MCX as global bullion prices rebound

Gold prices climbed Rs 1,400 per 10 grams to reach Rs 1,41,670 on the MCX, while silver surged Rs 5,000 per kilogram to settle at Rs 1,87,550, marking a robust rally in India's domestic bullion markets.

The price recovery reflected broader strength in international precious metals, with global gold and silver benchmarks extending gains amid shifting investor sentiment. The momentum underscored renewed interest in hard assets as a hedge against economic uncertainties.

Traders attributed the uptick to technical buying and short covering, with the metals breaking through key resistance levels. The gains came as investors reassessed their portfolio allocations in response to evolving macroeconomic conditions.

For Indian consumers and jewellers, the price movements carry immediate implications, potentially influencing demand patterns and retail pricing in the coming days. The recovery signals a departure from recent weakness that had kept precious metals under pressure.