Mumbai witnessed a split performance in precious metals trading on Tuesday, with gold prices climbing steadily while silver took a notable hit. According to the India Bullion and Jewellers Association (IBJA), 24-karat gold jumped by 1,021 rupees to reach 1,59,241 rupees per 10 grams, up from Monday’s close of 1,58,220 rupees. This marks continued strength in the yellow metal amid fluctuating market sentiments.
22-karat gold followed suit, rising from 1,44,930 rupees to 1,45,865 rupees per 10 grams. Even 18-karat variants saw gains, moving from 1,18,665 rupees to 1,19,431 rupees per 10 grams. Investors are closely watching these upward movements, which signal robust demand in domestic markets.
In contrast, silver prices tumbled by 1,163 rupees, settling at 2,62,912 rupees per kilogram compared to the previous 2,64,075 rupees. This decline comes despite gold’s rally, highlighting divergent trends in the bullion segment.
On the Multi Commodity Exchange (MCX), both metals faced downward pressure. Gold for April 2026 contracts slipped 0.97% to 1,60,037 rupees, while silver for March 2026 dropped 2.01% to 2,59,999 rupees. These shifts reflect broader trading dynamics as the session progressed.
Internationally, gold traded weaker at 5,175 dollars per ounce, down 0.96%, while silver edged up 1.07% to 87.49 dollars per ounce. Market analyst Jatin Trivedi from LKP Securities noted that MCX gold remained range-bound with weakness, facing resistance at 5,175 dollars on Comex.
‘Support for gold stands at around 1,58,000 rupees, with resistance near 1,62,500 rupees,’ Trivedi said. He cautioned that global uncertainties could keep volatility high, influencing future price directions. As economic indicators and geopolitical tensions loom, bullion traders are bracing for more swings in the days ahead.