30 April,2026 04:42 PM IST | Mumbai | mid-day online correspondent
Gold and silver extend rally as investors rush to safe assets. Representational Image
Gold and silver prices climbed on Thursday, supported by rising crude oil prices and renewed geopolitical tensions in West Asia. The sharp movement reflects increased demand for safe-haven assets amid global uncertainty.
In India, trading on the Multi Commodity Exchange (MCX) showed strong momentum in both metals during the session, reported IANS.
In Mumbai spot markets, precious metals were quoted with standard gold (99.5 purity) stood at Rs 1,48,057 per 10 grams and pure gold (99.9 purity) was priced at Rs 1,48,652 per 10 grams, reported PTI.
Silver spot stood at Rs 2,36,882 per kg.
Gold futures for June 5 opened at Rs 1,49,499 per 10 grams, slightly higher than the previous close of Rs 1,49,050.
As the session progressed, prices moved higher, touching an intra-day high of Rs 1,51,514 before settling around Rs 1,50,770 at midday up nearly 1.15 per cent.
On the domestic front, standard gold (99.5 purity) was at Rs 1,48,057, while pure gold (99.9 purity) stood at Rs 1,48,652.
The movement shows continued strength in gold, driven by global risk sentiment and investor demand for safety.
Silver followed a similar trend. July futures opened at Rs 2,40,784 per kg, up from the previous close of Rs 2,38,254.
During the session, silver hit an intra-day high of Rs 2,44,000 before easing to around Rs 2,38,900, still marginally higher than the previous close.
In Mumbai spot markets, silver was quoted at Rs 2,36,882 per kg.
International markets also reflected mild gains. On COMEX, gold traded slightly higher at around USD 4,563 per ounce, while silver rose to USD 72.40 per ounce.
The conflict has raised fears of broader instability in energy and financial markets. US President Donald Trump has stated that pressure will continue until Iran agrees on its nuclear programme, while Iran has maintained its stance despite offering peace proposals.
As per IANS reports, a commodity market expert noted that sentiment remains fragile, saying the near-term outlook for metals is "cautious to bearish" due to dollar strength and macroeconomic uncertainty.
Despite short-term volatility, precious metals have seen strong gains over the past year. Gold prices are up more than 40 per cent, while silver has surged over 120 per cent, driven by sustained global uncertainty and investor demand.
(With IANS Inputs)
