At the COMEX, gold last traded at ₹5,186.60 per 10 grams, up ₹62.90 (+1.23%), while silver rose to ₹85.10 per 100 grams, gaining ₹1.63 (+1.95%).
Tuesday’s selloff had pushed gold to its lowest since February 20, down 4% to $5,136, largely due to a stronger dollar and profit-taking.
Traders attribute the recovery to persistent geopolitical uncertainty, particularly tensions in the Middle East, and strategic buying from Asia following Tuesday’s dip.
Robert Gottlieb, former head of precious metals at Koch Supply and Trading, said, “The fundamentals have not changed. Gold’s long-term appeal as a safe haven remains intact despite short-term volatility.”
Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions and President of India Bullion and Jewellers Association, added, “Gold and silver remain in a structurally strong uptrend. As long as gold sustains above $5,200 an ounce, momentum favors a move toward $5,450–5,600 an ounce. Dips are likely to attract strategic buying rather than aggressive selling.”
Analyst outlook
BNP Paribas recently raised its 2026 average gold forecast by 27% to $5,620 per ounce, citing continued safe-haven demand. Silver, benefiting from both industrial and investment tailwinds—including solar, electric vehicles, and AI infrastructure—is expected to target $100–105 an ounce, according to Kothari.
Market strategist Ashish, speaking on the Groww podcast, offered practical advice for investors navigating 2026’s volatility:
“This is not the year to be aggressive. Review asset allocation, stay disciplined, and treat gold as a hedge against equity swings. Silver and other metals carry higher risk but may offer strong upside during this phase of the rally.”
–With agencies inputs