New Delhi witnessed a dramatic surge in gold prices on Wednesday, with 24-carat gold for 10 grams crossing the 1.57 lakh rupees mark once again. According to the India Bullion and Jewellers Association (IBJA), the price jumped by 1,067 rupees to settle at 1,57,322 rupees per 10 grams, up from the previous 1,56,255 rupees.
This sharp rally extended to other variants as well. 22-carat gold climbed from 1,43,130 rupees to 1,44,107 rupees per 10 grams, while 18-carat gold rose from 1,17,191 rupees to 1,17,992 rupees for the same quantity. Silver also joined the upward trend, skyrocketing by 7,349 rupees to 2,66,449 rupees per kilogram, compared to 2,59,100 rupees on Tuesday.
The momentum spilled over to futures markets too. On the Multi Commodity Exchange (MCX), gold for April 2026 contracts gained 0.94% to 1,58,284 rupees, and silver for March 2026 surged 3.91% to 2,62,435 rupees. Spot markets mirrored this bullish sentiment across the board.
Globally, precious metals shone brightly. Comex gold advanced 1.10% to 5,086 dollars per ounce, while silver leaped 4.35% to 83 dollars per ounce. Jatin Trivedi of LKP Securities noted that MCX gold saw a 1,700-rupee increase, signaling investor positioning ahead of key US unemployment and non-farm payroll data.
Support levels for gold hover around 1,55,000 rupees, with resistance between 1,60,000 and 1,62,000 rupees, Trivedi added. This rally underscores gold’s enduring appeal as a safe-haven asset amid economic uncertainties, prompting jewellers and investors to closely monitor upcoming global cues for sustained direction.