Silver and Gold Markets Rally Amid Geopolitical Uncertainties

Silver and gold futures saw a rebound due to value buying, with silver jumping over Rs 5,898 per kg and gold increasing by Rs 783 per 10 grams. The fluctuations come amid global trends and geopolitical tensions, affecting investor behavior and market sentiments.

The silver and gold markets experienced a notable rebound as value buying spurred a rise in futures prices after recent declines.

Silver surged by Rs 5,898 to Rs 2,49,222 per kg on the MCX, while gold climbed to Rs 1,38,525 per 10 grams. This upswing comes amidst firm global market trends and geopolitical tensions.

Analysts attributed the fluctuations to market anxieties over US jobs data and geopolitical developments, including US legislative measures concerning Venezuela. The metals have previously seen sharp declines, with silver crashing by Rs 15,487 or 6% prior to this recovery.

(With inputs from agencies.)