After declining for three consecutive sessions, silver rebounded strongly, climbing Rs 10,975, or 4.09 per cent, to Rs 2,79,275 per kg (inclusive of all taxes), compared with Monday’s closing level of Rs 2,68,300 per kg, according to the All India Sarafa Association.
Gold prices also recorded gains, with the 99.9 per cent purity variant rising by Rs 400, or 0.24 per cent, to Rs 1,64,700 per 10 grams (inclusive of all taxes). In the previous trading session, the precious metal had settled at Rs 1,64,300 per 10 grams.
Research Analyst Gaurav Garg from Lemonn Markets Desk said the rise in gold and silver prices on Tuesday was largely influenced by geopolitical developments. He noted that comments by US President Donald Trump indicating a possible resolution to the ongoing conflict in West Asia helped shape investor sentiment, which had remained cautious amid the tensions.