Gold and Silver Bounce Back: Sharp Recovery After Previous Day’s Crash

New Delhi, February 13:
After steep losses on Thursday, gold and silver prices surged on Friday, bringing relief to investors. In early MCX trading, silver jumped over ₹6,000 per kilogram, while gold rose by more than ₹2,000 per 10 grams.

MCX Rates

• Silver (May 5 delivery): Closed at ₹2,36,435 per kg on Thursday, opened at ₹2,39,626, and surged to ₹2,42,866 in early trade. By 9:50 AM, it was trading at ₹2,42,200, up ₹5,765.
• Gold (April 2 delivery): Closed at ₹1,52,836 per 10 grams, opened at ₹1,53,750, and reached ₹1,54,837 at its peak. By 10 AM, it was trading at ₹1,54,725, a 1.24% increase.

International Markets

Global markets mirrored this recovery:

• Spot gold rose 1% to $4,966.83 per ounce after dropping over 3% in the previous session.
• Spot silver gained 2.1% to $76.76 per ounce after an 11% decline earlier.

City-Wise Gold Rates

• Delhi: 22-carat – ₹1,16,272/8g; 24-carat – ₹1,26,832/8g
• Mumbai: 22-carat – ₹1,16,152/8g; 24-carat – ₹1,26,712/8g
• Chennai: 22-carat – ₹1,16,792/8g; 24-carat – ₹1,27,416/8g
• Hyderabad: 22-carat – ₹1,16,152/8g; 24-carat – ₹1,26,712/8g

This recovery comes after silver fell nearly 10% (₹26,000) and gold dropped over 4% (₹6,000) in the previous session, highlighting a volatile week for precious metals.