Gold and silver prices in India traded with mixed momentum on Thursday amid continued volatility in global markets, driven by dollar strength, monetary policy expectations, geopolitical uncertainties and broader risk sentiment. In domestic futures trade, gold prices were seen fluctuating near key levels, while silver remained under pressure, as traders balanced safe-haven demand with expectations of impending interest rate decisions from major central banks.

Key Highlights

• Gold and silver prices traded with mixed momentum amid a firm US dollar and cautious sentiment ahead of key central bank cues.
• Geopolitical tensions and interest rate expectations continue to influence bullion prices.

Market participants said the US dollar’s resilience, supported by speculation around US Federal Reserve policy and higher-for-longer interest rate expectations, is weighing on bullion. A stronger dollar typically makes dollar-denominated assets such as gold and silver costlier for holders of other currencies, dampening demand in some segments. At the same time, ongoing geopolitical tensions — including developments in the Middle East and concerns around supply disruptions — continue to support safe-haven interest in precious metals.

According to price feeds across major Indian cities, 24-carat gold was trading around ₹1.4 lakh per 10 grams, with silver near ₹2.8–₹3.1 lakh per kilogram, though levels varied slightly by exchange and local demand dynamics. Traders noted that global Comex gold and silver benchmarks also reflected similar patterns, as bullion markets responded to macroeconomic data, geopolitical headlines and traders’ positioning ahead of key economic announcements.

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Analysts said that near-term bullion direction may hinge on Fed messaging, dollar trend and fresh geopolitical developments, with support and resistance levels likely to guide short-term traders.