Silver Jumps ₹8,300 Per Kg On MCX, Nears ₹2.7 Lakh; Gold Trades Flat Amid Global Developments

Silver prices opened sharply higher in domestic trade on Friday, while gold showed limited movement during early hours.

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On the Multi Commodity Exchange, silver futures for March 2026 delivery rose by ₹8,340, or 3.2%, to ₹2,68,009 per kg in early trade.

The rise took silver prices close to the ₹2.7 lakh per kg mark.

Gold futures on the exchange traded with modest gains. MCX gold futures for April 2026 were up by ₹482, or 0.3%, at ₹1,60,191 per 10 grams.

International Market Prices

In overseas markets, gold prices were largely steady. Spot gold was little changed at $5,187.39 per ounce as of 01:46 GMT.

The metal had touched a more than three-week high earlier in the week before trading in a narrow range. Silver prices extended gains in the international market.

Spot silver rose 0.6% to $88.81 per ounce, adding to gains recorded earlier in the week.

Geopolitical Developments

Market participants continued to assess developments related to talks between the United States and Iran over Tehran’s nuclear programme.

Negotiations were held in Geneva, with mediators indicating some progress during discussions. However, no formal agreement or resolution was announced following the talks.

The absence of a clear outcome kept geopolitical developments in focus during the session.

Tariff Policy Uncertainty

Uncertainty related to U.S. trade policy also remained a factor influencing precious metals. Recent statements on tariff rates for certain trading partners have added to policy ambiguity.

The developments followed a recent ruling by the U.S. Supreme Court that struck down a set of tariffs imposed under emergency powers.

Subsequent policy signals have kept global markets attentive to trade-related announcements.

Currency And Commodity Context
Movements in the U.S. dollar were also monitored during the session. Precious metals prices often move in response to changes in currency markets.

Recent sessions have seen increased volatility across gold and silver contracts, both domestically and internationally.

Physical Gold Prices In India

Gold prices in physical markets varied across major Indian cities on Friday. In Delhi, standard gold of 22 carat was priced at ₹1,18,672 per 8 grams. Pure gold of 24 carat stood at ₹1,29,456 per 8 grams.
In Mumbai, 22-carat gold was priced at ₹1,18,072 per 8 grams, while 24-carat gold stood at ₹1,28,808 per 8 grams. In Chennai, standard gold of 22 carat was priced at ₹1,19,352 per 8 grams, with pure gold at ₹1,30,208 per 8 grams.

In Hyderabad, 22-carat gold stood at ₹1,18,072 per 8 grams, while 24-carat gold was priced at ₹1,28,808 per 8 grams.

Silver prices recorded a sharp jump in domestic trade, while gold remained largely flat. Price action reflected ongoing global developments rather than changes in domestic fundamentals. Precious metals continued to trade in line with international cues during the session.