India’s stock market witnessed a strong rally on Tuesday amid renewed optimism over possible tariff reductions by former US President Donald Trump and progress in India-US trade discussions. From early morning trade, benchmark indices Sensex, Nifty 50 and Bank Nifty showed sharp upward momentum.
Alongside equities, bullion investors also found reason to cheer. Gold and silver prices on the Multi Commodity Exchange (MCX) moved sharply higher, tracking gains in international markets.
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Gold futures for April opened 2.78 percent higher at around ₹1.48 lakh per 10 grams, compared to the previous session’s close of ₹1,41,669. Silver futures for March opened nearly 4 percent higher, with prices starting near ₹2,45,711 per kilogram, up from the earlier close of ₹2,36,261.
Strong rebound in bullion prices
By around 9:20 am, gold prices on MCX had surged by ₹4,685 (3.25 percent) to trade near ₹1,48,676 per 10 grams. Silver witnessed an even sharper rally, jumping ₹17,744 (7.51 percent) to around ₹2,54,005 per kilogram.
In the international market as well, gold prices climbed over 3 percent, rebounding sharply after touching a one-month low in the previous session.
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Over the past few days, gold and silver prices had remained under pressure, causing losses for investors holding bullion through commodity exchanges, funds or ETFs. Tuesday’s rally is expected to provide temporary relief, though market experts caution that volatility may persist in the near term. Despite fluctuations, analysts note that bullion prices are still holding above key support levels.
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