New Delhi, India — February 25, 2026
Gold and silver prices witnessed sharp movement on Wednesday, with domestic bullion markets recording strong gains even as futures trading on the commodity exchange showed volatility.
Silver prices jumped by ₹6,600, while gold also moved higher in spot markets, reflecting global trends and investor demand for safe-haven assets.
📈 Domestic Bullion Prices
• Silver: Up ₹6,600 to ₹2.67 lakh per kilogram
• Gold: Up ₹690 to ₹1.61 lakh per 10 grams
The surge comes amid heightened global uncertainty and continued investor interest in precious metals.
However, on the Multi Commodity Exchange (Multi Commodity Exchange of India):
• Silver futures: Fell ₹3,764 to ₹2.61 lakh per kg
• Gold futures: Declined ₹1,590 to ₹1.60 lakh per 10 grams
This divergence highlights short-term volatility in futures trading compared to spot market sentiment.
🌍 International Market Update
In global markets:
• Spot Gold: Up 0.48% to $5,202 per ounce
• Spot Silver: Up 0.96% to $88.25 per ounce
Both metals had previously broken a four-day rally on Tuesday, falling nearly 1.6% before rebounding.
The recovery reflects renewed safe-haven demand amid geopolitical and economic uncertainty.
📊 What Are Experts Saying?
Market analysts attribute price volatility to uncertainty surrounding U.S. monetary policy.
Officials from the U.S. Federal Reserve have signaled caution regarding interest rate cuts. Boston Fed President Susan Collins indicated that strong labor market conditions may keep rates steady for some time.
Minutes from the Federal Reserve’s January meeting also suggested a cautious approach toward rate reductions.
Higher interest rates generally weigh on non-yielding assets such as gold and silver, as investors tend to prefer interest-bearing instruments during tight monetary cycles.
🌐 Global Trade and Geopolitical Impact
Additional uncertainty stems from U.S. trade policy developments. Recent tariff announcements and global trade tensions have added pressure to commodity markets.
Former U.S. President Donald Trump recently warned of higher duties on countries withdrawing from trade agreements, contributing to global market instability.
Further, after the U.S. Supreme Court rejected an emergency tariff measure, logistics giant FedEx filed a lawsuit seeking refunds. The U.S. later imposed a new 10% tariff on certain goods, adding to trade-related volatility.
Geopolitical tensions in West Asia have also strengthened demand for safe-haven assets like gold and silver.
📌 Market Outlook
Bullion prices remain sensitive to:
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Federal Reserve policy signals
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U.S. dollar movement
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Global trade tensions
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Geopolitical developments
Analysts suggest that continued uncertainty could keep volatility elevated in precious metals markets in the near term.
