bullion market news Archives - Odisha Connect

Gold and Silver Prices Surge to Record Highs Amid Wedding Season Demand

OdishaConnect — Thu, 07 May 2026 11:55:50 +0000

Rising Precious Metal Prices Worry Middle-Class Families

The continuous rise in gold and silver prices is creating concern among consumers, especially middle-class and lower middle-class families, during the ongoing wedding season. In India, gold jewellery remains an essential part of weddings and a preferred investment option, forcing many families to purchase gold despite soaring prices.

However, the latest surge in precious metal rates has made buying jewellery increasingly difficult for ordinary consumers.

Gold Prices Climb Sharply

According to bullion market reports, gold prices witnessed a strong increase on Thursday amid ongoing uncertainty in the international market.

Gold contracts with June 5 expiry were reportedly trading at around ₹1,52,580, marking an increase of nearly ₹448 compared to the previous day.

Current gold prices include:

24-carat gold (99.9% purity): ₹1,52,140
22-carat gold (91.6% purity): ₹1,39,460
18-carat gold (75% purity): ₹1,14,150

The sharp rise has made purchasing pure gold jewellery financially challenging for many households.

Silver Prices Jump Even Faster

Silver prices have also recorded a major surge. Reports indicate that silver contracts with July 3 expiry increased by ₹1,735 in a single day.

The price of silver has now reached approximately ₹2,55,000 per kilogram, surprising traders and consumers alike.

While gold prices rose by around 0.29%, silver witnessed a sharper growth of nearly 0.69%.

Global Tensions Driving Price Increase

Market experts believe the rise in precious metal prices is largely being driven by geopolitical tensions and uncertainty in global financial markets.

Whenever stock markets become volatile, investors tend to shift towards safer assets like gold and silver. This increased demand pushes prices higher across international and domestic markets.

Analysts say gold prices are unlikely to fall significantly unless global tensions ease and financial markets stabilize.

Experts Advise Cautious Investment

Financial experts suggest that long-term investors should avoid panic buying and instead purchase gold gradually whenever prices witness temporary corrections.

With major festivals and wedding ceremonies approaching, the sharp rise in gold and silver prices is expected to place additional pressure on household budgets in the coming months.

The post Gold and Silver Prices Surge to Record Highs Amid Wedding Season Demand appeared first on Odisha Connect.

Gold and Silver Prices See Sharp Weekly Volatility; Both Metals Decline

OdishaConnect — Sat, 25 Apr 2026 12:44:53 +0000

Significant Swings in Precious Metal Market
The past week witnessed notable fluctuations in gold and silver prices across domestic and futures markets. On the final trading day, Friday, silver futures on the Multi Commodity Exchange of India closed higher by ₹2,808 per kilogram, while gold registered a marginal gain. However, despite the late recovery, both precious metals ended the week on a weaker note overall.

Silver Records Steep Weekly Decline
Silver prices have shown high volatility in recent days, with sharp rises followed by steep corrections. Over the last five trading sessions, silver futures dropped by ₹12,821 per kilogram. On April 17, silver was trading at ₹2,57,142 per kg on MCX, but by Friday, it settled at ₹2,44,321 per kg.

Compared to its historical peak, the decline is even more striking. Earlier this year in January, silver prices had surged past ₹4 lakh per kg, reaching an all-time high of ₹4,39,337. From that level, silver has now fallen by nearly ₹1.95 lakh per kg.

In the domestic market, data from the Indian Bullion Jewellers Association shows that silver prices declined by ₹6,115 per kg during the week, closing at ₹2,43,825 compared to ₹2,49,940 on April 17.

Gold Prices Also Under Pressure
Gold followed a similar trend, declining over the week despite minor gains on the final trading day. Gold futures on MCX for the June 5 contract closed at ₹1,52,799 per 10 grams on Friday, slightly up by ₹100. However, this is down from ₹1,54,609 recorded on April 17, marking a weekly drop of ₹1,810 per 10 grams.

Gold too has retreated significantly from its peak levels. Earlier this year, it crossed ₹2 lakh per 10 grams for the first time, reaching a lifetime high of ₹2,02,984. At current levels, gold is cheaper by around ₹50,185 per 10 grams from its peak.

Domestic Market Mirrors Decline
In the physical market, gold prices also edged lower during the week. According to IBJA, 24-carat gold was priced at ₹1,51,655 per 10 grams earlier, and closed slightly lower at ₹1,51,475 by the end of the week.

Outlook Remains Uncertain
Market experts attribute the volatility to global economic cues, currency fluctuations, and changing investor sentiment. With ongoing uncertainties, gold and silver prices are expected to remain volatile in the near term.

The post Gold and Silver Prices See Sharp Weekly Volatility; Both Metals Decline appeared first on Odisha Connect.

Gold and Silver Prices Tumble After Record Surge; 24K Gold Drops by ₹8,230

OdishaConnect — Fri, 30 Jan 2026 10:34:36 +0000

After days of persistent price increases that had unsettled both investors and consumers, the bullion market witnessed a sharp correction today, offering relief to potential buyers.

24K Gold Sees Sharp Decline

In a dramatic turnaround, the price of 24 carat gold fell by ₹8,230, settling near ₹1,65,000 per 10 grams. Earlier in the day, it touched a low of ₹1,60,000 before recovering slightly. This correction comes just a day after prices surged by as much as ₹11,000 in a single session, reflecting extreme volatility in the market.

22K Gold Also Corrects

Gold buyers who prefer 22 carat gold also benefited from the correction, with prices dropping ₹7,550 to ₹1,56,400 per 10 grams. Analysts say this decline may rekindle interest among retail consumers who were waiting for the market to stabilize before making purchases.

Silver Prices Fall Sharply

The “silver lining” turned literal as silver prices also suffered a massive correction. Prices fell ₹10,000 per kilogram, bringing the current trading rate to ₹4,15,000 per kg. This sudden drop follows weeks of surging rates that had created caution among industrial and retail buyers alike.

Market Analysts Comment

Market experts describe the current decline as a natural correction after what they term “unreasonable” price increases in recent weeks. While prices remain high compared to previous years, this correction has sparked renewed interest among consumers, creating opportunities for buyers who had postponed purchases during the rally.

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