Gold and Silver Prices Surge After 3-Day Fall, Biggest One-Day Jump Since 2008

Gold and silver prices have staged a powerful recovery after three consecutive days of decline. From Delhi’s bullion market to India’s futures market and even global markets, both precious metals witnessed sharp gains. Silver prices jumped by over 9 percent, while gold prices rose between 3 to 5 percent, supported by renewed buying interest and strong global cues.

Gold and Silver Prices Surge in Domestic Markets

After a steep correction over the past three days, gold and silver prices rebounded strongly in the domestic market. In Delhi’s bullion market, gold prices jumped by ₹5,000, while silver prices surged by ₹24,000 per kilogram.

In the futures market, the rally was even stronger, with silver prices rising by nearly ₹42,000, and gold gaining more than ₹9,800 in a single session.

Delhi Bullion Market: Silver Jumps Over 9%

According to the All India Sarafa Association, silver prices rose by ₹24,000 or 9.23 percent to reach ₹2,84,000 per kilogram (inclusive of all taxes). On Monday, silver had fallen sharply by ₹52,000, closing at ₹2,60,000 per kilogram.

After three days of heavy losses, silver prices bounced back strongly. From its all-time high of ₹4,04,500 per kg recorded on January 29, silver had fallen by ₹1,44,500 or nearly 36 percent during the recent correction.

Gold Prices Recover After Sharp Correction

Gold of 99.9 percent purity also witnessed a solid recovery. Prices climbed by ₹5,000 or 3.3 percent, rising from ₹1,52,700 per 10 grams to ₹1,57,700 per 10 grams.

Gold prices had earlier declined by ₹30,300 or around 17 percent from their record high of ₹1,83,000 per 10 grams on January 29, as investors booked profits after a sharp rally.

Expert View: Buying Interest Returns at Lower Levels

Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said that gold partially recovered recent losses on Tuesday after prices slipped to a four-week low following a record-breaking rally.

He added that silver prices also rebounded as buying emerged after two days of heavy selling. Gandhi noted that long-term investors, who were waiting for a correction, are now viewing the recent decline as a buying opportunity.

International Markets See Biggest One-Day Jump Since 2008

Global markets mirrored the strong recovery seen in India.

• Spot silver surged by $9.55 or 12.07 percent to $88.77 per ounce

• Spot gold jumped by $275.39 or 5.91 percent to $4,935.49 per ounce

This marked the largest single-day rise since 2008 for both precious metals.

Kayanat Chainwala, AVP – Commodity Research at Kotak Securities, said that gold and silver have seen a sharp recovery after heavy losses over the past two sessions.

Why Prices Turned Volatile Globally

Chainwala explained that spot gold and silver had declined by nearly 15 percent and 30 percent, respectively, over the last two sessions before recovering by around 5 percent and 8 percent.

She added that selling pressure intensified due to higher margin requirements and growing expectations that monetary easing may be delayed until Jerome Powell’s term ends in May, with a more hawkish candidate likely to take charge.

Futures Market: Gold and Silver Rally Sharply

Gold Futures (MCX)

On the Multi Commodity Exchange (MCX), gold prices were up by ₹8,357 at around 8 PM, trading at ₹1,52,348 per 10 grams.
During the session, gold touched an intraday high of ₹1,53,806, rising by ₹9,815.

Silver Futures (MCX)

Silver futures surged by over 15 percent. At around 8 PM, silver was trading ₹32,157 higher at ₹2,68,418 per kg.
During the session, silver prices jumped by ₹40,739, touching a day’s high of ₹2,78,000 per kg.

What Experts Expect Next

Discussing the outlook, Chainwala said that volatility in gold and silver prices is likely to continue. Markets are closely watching the upcoming US employment data to gauge the timing of the Federal Reserve’s next interest rate cut.

She also highlighted that the Chinese market will remain in focus, as elevated Shanghai–COMEX premiums have exposed gaps between physical and paper markets, contributing to extreme volatility in silver prices. Additionally, pre-holiday buying ahead of the Lunar New Year could further intensify price swings.