Gold and silver prices recorded notable gains during the last trading week on the Multi Commodity Exchange (MCX), reflecting renewed investor interest in precious metals.
Despite this upward movement, both commodities continue to trade significantly below their all-time high levels, indicating a mixed trend in the market.
Silver Price Update
Silver prices witnessed a sharp increase over five trading sessions. The price of 1 kilogram of silver (May 5 expiry contract) rose by ₹14,805, climbing from ₹2,43,274 on April 10 to ₹2,58,079 per kg by the end of the week.
However, even after this rise, silver remains substantially below its peak level. Earlier in January, silver had surged past ₹4 lakh per kg for the first time, reaching an all-time high of ₹4,39,337 per kg. Compared to that record, current prices are still lower by approximately ₹1.81 lakh per kg, suggesting that the metal is still undergoing a broader correction phase following its earlier rally.
Gold Price Update
Gold prices also moved upward during the same period. The price of 24-carat gold increased from ₹1,52,652 per 10 grams on April 10 to ₹1,54,605 per 10 grams by Friday, marking a weekly gain of ₹1,953.
Despite this increase, gold remains below its historic peak. Earlier this year, gold crossed the ₹2 lakh mark per 10 grams for the first time, reaching an all-time high of ₹2,02,984. At present, gold prices are still approximately ₹48,379 lower than that peak level.
Market Trend Analysis
The recent gains in both gold and silver indicate a short-term recovery in the commodities market. However, the significant gap from their record highs highlights ongoing volatility and a cautious investment environment. Analysts suggest that global economic factors, inflation trends, and currency movements continue to influence precious metal prices.
