New Delhi, India — February 3, 2026
After several sessions of sharp decline, India’s bullion market staged a strong comeback on Tuesday, with gold and silver prices recording significant gains amid improving global sentiment and optimism surrounding the India-US trade agreement.
According to market data, gold prices surged by ₹8,246, climbing to ₹1,49,939 per 10 grams, while silver prices jumped nearly 14 percent, rising ₹33,732 to settle at ₹2,69,993 per kilogram.
📈 Trade Deal Boosts Commodity Sentiment
The rebound in precious metals comes on the back of positive momentum across financial markets following confirmation that India and the United States have agreed to a trade deal, including a sharp reduction in US tariffs on Indian goods to 18 percent. The development has improved risk sentiment and supported demand in the commodity market.
Market participants said the rally marks a technical recovery after five consecutive sessions of losses in bullion prices.
📉 Heavy Losses Recorded Earlier
On Monday, data from the All India Sarafa Association showed that gold and silver had suffered steep declines.
Silver prices had fallen for the third straight session, plunging by ₹52,000 to ₹2.60 lakh per kilogram. Over the previous three trading sessions, silver had dropped nearly 36 percent from its January 29 peak.
Gold of 99.9 percent purity had also corrected sharply, slipping ₹12,800 to ₹1,52,700 per 10 grams before Tuesday’s rebound.
🌍 International Markets See Sharp Rise
Global precious metal prices also recorded strong gains. On the COMEX, gold jumped by nearly $137, or about 3 percent, to trade around $4,789 per ounce during early Tuesday trading.
Silver outperformed gold globally, surging 5.81 percent, or nearly $4.4, to trade above $81 per ounce, reflecting renewed investor interest and short-covering activity.
🔮 Market Outlook
Analysts said bullion prices may remain volatile in the near term, tracking global economic cues, currency movements, and trade-related developments. However, the sharp rebound indicates continued underlying demand for precious metals as both investment and hedge assets.
