Gold and silver prices staged a strong recovery on the Multi Commodity Exchange of India on Friday, rebounding sharply after a steep decline in the previous session. Analysts attributed the uptick to a technical bounce, while noting that the near-term outlook remains bearish as elevated oil prices linked to the Middle East conflict continue to stoke inflation concerns.
On the MCX, silver futures for May 2026 delivery climbed Rs 8,540, or 3.6 percent, to Rs 2,40,000 per kg. Gold futures for April 2026 also moved higher, rising Rs 3,340, or 3 percent, to Rs 1,48,302 per 10 grams.
In global markets, gold edged up on Friday but was still headed for a third consecutive weekly loss, pressured by a strong dollar and the US Federal Reserve’s hawkish stance, which has dampened expectations of near-term interest rate cuts. Spot gold gained 0.2 percent to $4,657.50 per ounce as of 0112 GMT, although it has fallen more than 7 percent so far this week. Spot silver also recorded a modest increase, rising 0.1 percent to $73 per ounce.
