Mumbai, February 13: On the last trading day of the week, Friday, prices of precious metals, including gold and silver, witnessed an upward trend. Following a significant decline in the previous session, investors stepped in to make purchases, leading to a rebound in prices.
In the early trading session, gold for April delivery on the Multi Commodity Exchange (MCX) rose by over 1 percent, reaching ₹1,54,837 per 10 grams, marking the day’s highest level. Meanwhile, silver for March delivery surged by more than 2.50 percent, hitting a peak of ₹2,43,699 per kilogram.
However, as of the time of writing (around 11:32 AM), gold for April expiry on the MCX was trading at ₹1,53,759 per 10 grams, up by 0.60 percent or ₹923. Silver for March expiry was trading at ₹2,40,966 per kilogram, reflecting an increase of 1.92 percent or ₹4,531.
Sandeep Raichura, Director of PL Capital, noted that gold has stabilized after the decline at the end of January. Experts predict that by the end of 2026, gold prices could reach as high as $6,000 per ounce.
According to specialists, U.S. President Donald Trump has approved a trade agreement with India and indicated a deal with Brazil, alleviating some trade-related concerns. However, rising inflation and economic disparities in various parts of the world continue to prompt central banks to purchase gold.
Market analysts indicated that gold is receiving support at around ₹1,54,000 per 10 grams, while silver is supported near ₹2,42,000 per kilogram. They believe that the recent decline was merely profit-taking and not indicative of market weakness.
In the international market, gold on COMEX is trading between $4,850 and $5,100, having recently peaked at $5,500 to $5,600 before the decline. Silver is trading between $73 and $84, down from previous highs above $121.
On Friday, the dollar index climbed to 97, up from 96.93 in the previous session.
Investors are now awaiting U.S. inflation data to gauge potential decisions by the U.S. Federal Reserve regarding interest rates.
Experts suggest that the combination of low silver supply and steady industrial demand is supporting its prices. Meanwhile, the ongoing demand for gold as a safe investment and continuous purchases by central banks may sustain upward momentum in gold prices in the coming years.
Deependra Singh Chundawat is a Senior Sub-Editor at Udaipur Kiran, specializing in a wide range of technology topics including mobile phones, applications, gaming, PCs, and wearables. Along with covering the latest tech news, he also creates engaging web stories. Passionate about emerging technologies, he stays up to date with the newest trends and enjoys reading and writing about the latest mobile launches and digital innovations.
